Borrowing reaches £20.5 billion

Government borrowing was £20.5 billion in August, according to the Office for National Statistics. Although £5.5bn lower than the same month last year, it is still the second-highest figure for August since records began in 1993.

The interest payments on government debt were £6.3 billion; £2.9bn more than in August 2020, but lower than the monthly record of £8.7bn in June 2021. Borrowing has been at record levels, fuelled by the Covid crisis, combined with a drop in income coming into the exchequer. This has raised government debt to more than £2.2 trillion, or about 97.6% of GDP, the highest ratio since March 1963.

https://www.ons.gov.uk/releases/publicsectorfinancesukseptember2021