(ONS) UK posted a public sector debt, excluding public sector banks, of 2,339.9 billion pounds in December 2021, equivalent of 96.0% of GDP and the highest ratio since March 1963.
Excluding the Bank of England and the public sector banks, UK public sector debt was 2,016.5 billion pounds or 82.7% of GDP at the end of December.
The rise in debt happens when the public sector net borrowing, excluding public sector banks, hit 16.8 billion pounds, the fourth-highest in a December month in the series record. The borrowing was 7.6 billion pounds below December 2020.
The public sector borrowing for FY21 was 146.8 billion pounds, the second-highest on an annual basis on the series record. The borrowing was 129.3 billion pounds below the previous year.
Receipts by the central government rose by 6.2 billion pounds to 68.5 billion pounds in December from the previous year. The spending was 84.1 billion pounds, 1.2% below December 2020.
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