Britain expected to borrow 10.3 per cent of its GDP next year

Britain’s borrowing is forecast to be 10.3 per cent of its gross domestic product (GDP) next year – with 234 billion pounds (326 billion dollars) predicted to be spent. Chancellor of the Exchequer Rishi Sunak told lawmakers that the amount was “so large” it had only “one rival in recent history – this year.” In 2020, the British government borrowed a “record” 355 billion pounds, the equivalent of 17 per cent of Britain’s national income, Sunak added. Borrowing will, however, fall to 4.5 per cent of GDP in 2022-23, 3.5 per cent in 2023-24 and then 2.9 per cent and 2.8 per cent in the following …

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HEDGE accordingly