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MNI BRIEF: UK Debt/GDP At Highest Level Since 1961

UK debt-to-GDP levels underline fiscal position facing winner of UK election.

The UK government's outstanding debt as a share of GDP rose to 99.8% in May, the highest level since fiiscal year 1960/61, the Office for National Statistics said Friday.

Excluding the Bank of England from the measure, the share of net debt to GDP dropped to 91.3%, 8.5% lower than the fully inclusive reading. On either reading, the figure underlines the parlous state of the public finances facing whichever party wins the July 4 election.

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The UK government's outstanding debt as a share of GDP rose to 99.8% in May, the highest level since fiiscal year 1960/61, the Office for National Statistics said Friday.

Excluding the Bank of England from the measure, the share of net debt to GDP dropped to 91.3%, 8.5% lower than the fully inclusive reading. On either reading, the figure underlines the parlous state of the public finances facing whichever party wins the July 4 election.

Keep reading...Show less