Social Impact
Economics: Public sector borrowing highest since WWII
27 April 2021UK government net borrowing for the year ending March 2021 is estimated at £303bn, the highest nominal level since modern records began in 1947.
Click chart to enlarge
* “Fiscal drag” describes delaying changes to income tax bands as incomes rise, thus bringing more workers into the tax base and exposing more workers to higher rate taxes
More economic news and analysis
IGD author
IGD staff