UK Debt Reaches 100% of GDP for First Time Since 1960s

Government borrowing surges to record levels, driven by increased public sector spending and economic challenges.

The UK's national debt has hit 100% of GDP, a level not seen since the early 1960s, according to the Office for National Statistics (ONS).
Government borrowing in August reached £13.7 billion, the third highest for that month since records began in 1993.
The Labour government, which took office in July, attributes a £22 billion 'black hole' in public finances to the previous Conservative administration.
Chancellor Rachel Reeves faces tough decisions in her upcoming October 30 budget, with expected tax increases and spending cuts to address the fiscal deficit.
Economic challenges include lower than expected VAT receipts, rising public sector pay costs, and a stagnant economy posting zero growth in recent months.