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Public Sector: Borrowing

Question for HM Treasury

UIN 903309, tabled on 16 January 2018

What assessment he has made of potential risks to the economy from high levels of Government borrowing.

Answered on

16 January 2018

In 2010 we inherited the largest deficit since the second world war at nearly 10% of GDP. We’ve successfully reduced that to 2.3% last year, but our debt is still too high.

High levels of debt leave us vulnerable to economic shocks and incur significant amounts of debt interest.

That is why the government has clear fiscal plans to reduce borrowing further and get debt falling.

Answered by

Treasury
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