The United Kingdom’s official statistics agency has reported that the public debt owed by the United Kingdom has in its first time crossed $2.6 trillion.
The Office for National Statistics (ONS) said the public debt increased £227.6 billion at the end of July compared to the same time last year.
British Chancellor, Rishi Sunak said the crisis had put the 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. Without that support things would have been far worse.”
Sunak explained that the figures announced were a “stark reminder” that the UK must “return our public finances to a sustainable footing over time,” saying this would take “difficult decisions.”
“It is also why we are taking action now to support the growth and jobs which pay for our public services, by helping businesses to reopen safely and, through our plan for jobs, protecting, supporting and creating jobs to ensure that nobody is left without hope,” he added.