Public Sector Debt

(asked on 6th October 2020) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the level of public sector net debt as a share of GDP, on 1 September 2020.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 12th October 2020

The Office for National Statistics (ONS) publishes regular data on the public sector finances including for end-month Public Sector Net Debt. Public sector net debt was 101.9% of gross domestic product (GDP) at 31st August 2020. The next ONS Public sector finances release is expected on the 21st of October 2020.

Our fiscal response has been the right thing to do to support jobs, livelihoods and the economy, and will ensure stronger public finances over the longer term. Although this will lead to a rise in borrowing and debt in the near-term, with borrowing costs now close to record lows, this is affordable and sustainable. Over time and as the economy recovers, the government will take the necessary steps to ensure the long-term health of the public finances.

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