Britain’s debt nears £3TRILLION amid ballooning benefits bill of £30bn a month
BRITAIN’S debt is hurtling towards £3trillion amid the ballooning benefits bill of almost £30billion a month. Chancellor John Healey had to borrow another £1.8billion in July despite economists expecting him to balance the books. Britain was about £2.985trillion in the red at the end of the month — roughly £96billion m
Soaring welfare bill pushes national debt to almost £3tn
Britain’s soaring welfare bill forced John Healey to borrow more to balance the books last month.The gap between tax receipts and spending unexpectedly resulted in a £1.8bn deficit in July, taking the national debt to within a whisker of £3tn.Economists had predicted the Government would borrow nothing and blamed the d
Soaring welfare bill pushes national debt to almost £3tn
Britain’s soaring welfare bill forced John Healey to borrow more to balance the books last month.The gap between tax receipts and spending unexpectedly resulted in a £1.8bn deficit in July, taking the national debt to within a whisker of £3tn.Economists had predicted the Government would borrow nothing and blamed the d
Vance: Bessent has ‘very discreet plan’ to shrink $40 trillion national debt
Vice President Vance said Thursday night that Treasury Secretary Scott Bessent has a “very discreet plan” to shrink the nation’s debt. “He [Bessent] has had a very discreet plan, of course, supported by the president of the United States, to get the United States to a point where our economy is growing faster than our…
US debt crosses $40-trillion threshold after doubling under Trump and Biden
WASHINGTON, Aug 19 (Reuters) - Total US debt has topped $40-trillion for the first time, the Treasury Department said on Wednesday, drawing fresh warnings that a fiscal crisis is brewing as ballooning costs for social safety-net programs and interest payments far outstrip revenues held back by tax cuts.