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Public finances: Debt interest, energy support and student loans

UK DATA
  • Looking at the public finance data there were three main areas of interest:
  • Interest payments were GBP17.3bln in Dec22 (of which GBP13.7bln is due to linkers) vs GBP8.7bln in Dec21 - and increase of GBP8.7bln. In terms of the calendar year, 2022 saw debt interest of GBP105.9bln which is GBP42.2bln higher than in 2021 (largely due to the linkers).
  • "Subsidies - other" which includes the energy support schemes rose from GBP2.4bln in Dec21 to GBP7.2bln in Dec22, an increase of GBP4.8bln.
  • GBP8.6bln of the borrowing was due to a change in how student loans are accounted for.
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