Rocketing interest rates and inflation drove UK government debt above 100% of GDP for the first time since 1961, dealing a blow to Prime Minister Rishi Sunak’s pledge to get it falling and denting ...

With the exception of the U.S., GDP per capita — the size of the pie, and how big a slice of pie the average person gets — has stalled or fallen in all advanced economies.

Chief Secretary to the Treasury Darren Jones said: “When we came into office, we inherited an economy that wasn’t working for working people. Today's data shows the highest August borrowing on record, ...

Household spending was also revised up, from 0.2% to 0.4%, as the savings ratio fell for the first time in more than two years, to 10.9% over the quarter, as consumers dipped into their savings to ...

“But there are signs the British economy is turning a corner. Forecasters agree that growth will strengthen over the next few years, wages are rising faster than prices, mortgage rates are down and ...

That represented the first time that debt stood above 100% of GDP since 1961 although it was temporarily recorded as passing that threshold during the COVID-19 pandemic before being revised lower.