UK Government borrowed extra $589bn in 2020 to run the world's largest budget deficit during the pandemic
‘Borrowing was the right call’, according to Janus Henderson Sovereign Debt Index
UK national debt jumped by a quarter in 2020
The UK borrowed an additional $589bn in 2020, up 24% year on year to $3trn, meaning it ran the world’s largest budget deficit as part of government efforts to shore up the economy during the pandemic, according to Janus Henderson’s Sovereign Debt Index.
In 2020, the budget deficit was worth a fifth of the UK economy, as the findings from the first edition of the Sovereign Debt Index showed that the largest countries borrowed the most. The US, Japan...
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