UK national debt surpasses 3T pounds
The UK national debt has surpassed the £3 trillion ($4 trillion) mark for the first time, as the government borrowed more than expected in the first half of the financial year, with the deficit rising to £97.8 billion between April and September. In September alone, borrowing reached £24.5 billion, exceeding forecasts, while the annual cost of servicing the debt exceeds £110 billion. The government is working to balance easing the cost of living with controlling borrowing, amid expectations that the budget deficit will reach 1.4% of GDP by 2031.
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