BRITISH government debt has exceeded £2 trillion (RM11 trillion) for the first time, following large state borrowing as the Covid-19 pandemic pushes the economy deep into recession, official data showed today.

At the end of last month, total accumulated debt hit £2.004 trillion, said the National Statistics Office (ONS) in a statement.

The debt increased by £227.6 billion compared with July last year.

“This crisis has put public finances under significant strain, as we have seen a hit to our economy and taken action to support millions of jobs, businesses and livelihoods,” said Finance Minister Rishi Sunak in a separate statement.

“Without that support, things would have been far worse.”

UK borrowing last month alone is estimated at £26.7 billion, said ONS. – AFP, August 21, 2020.