Government Borrowed £19 Billion in February, Pushing National Debt Up to £2.13 Trillion

The Government borrowed £19.1 billion in February, the highest since comparable records began in 1993. Serious measures are needed to flatten the UK’s growing mountain of debt, but the Government hopes to stop short of introducing another period of “austerity”. The Mail has the story.

Rishi Sunak renewed his vow to balance the books today as the Government broke another borrowing record.

The £19.1 billion figure for last month was the highest February figure since comparable records began in 1993.

It means that net debt has risen by £333 billion since coronavirus chaos kicked in last April, with the UK’s debt mountain reaching £2.131 trillion – equivalent to 97.5% of GDP.

Responding to the ONS figures, the Chancellor said: “Coronavirus has caused one of the largest economic shocks this country has ever faced, which is why we responded with our £352 billion package of support to protect lives and livelihoods.

“This was the fiscally responsible thing to do and the best way to support the public finances in the medium-term.

“But I have always said that we should look to return the public finances to a more sustainable path once the economy has recovered and at the Budget I set out how we will begin to do just that, providing families and businesses with certainty.” …

Rather than go ahead with another period of “austerity” – which Boris Johnson has already ruled out – it is more likely that tax rises and borrowing would increase instead to make up the shortfall, the Institute for Fiscal Studies has said.

The UK’s tax burden is already set to hit the highest level since the 1960s as Mr Sunak raises billions by dragging more people into higher income tax rates and increasing rates for businesses.

The relationship between the stringency of lockdowns and the level of economic suffering is well established, as is highlighted here.

Worth reading in full.


19 Responses to “Government Borrowed £19 Billion in February, Pushing National Debt Up to £2.13 Trillion”

  1. ian says:

    Responding to the ONS figures, the Chancellor said: “Coronavirus has caused one of the largest economic shocks this country has ever faced, which is why we responded with our £352 billion package of support to protect lives and livelihoods.

    Well actually Rishi, Corona virus did nothing. It was the government working on behalf of the banker elite who did it. Numerology people might like your £333 billion and the hidden eye symbolism might please your bosses, However, I hope that you all burn in Hell.

    • archer says:

      Staged photo making him look like he gives a stuff. Him and the rest of the evil clan will get their comeuppance one way or another.

  2. Tapestry says:

    Has the government noticed that lockdowns plummet tax revenues and cause massive debts? That’s amazing. They may also notice that COVID is no longer a problem in all areas, so why is the economy still closed? The answer is that they want the economy to end, and free-thinking self employed people to be driven to the wall. It’s not working. There are masses of new businesses being formed by people stuck at home fomenting great ideas. The economy will grow so fast, the bankers will be furious. Zapping 2 trillion of debt will be no problem. Get rid of the current political parties. Elect the English Democrats and St George will once more kill the dragon. Robin Tilbrook is waiting your support, if you are not already signed up to England’s fastest growing political party.

    • archer says:

      I agree Tap – they should never underestimate the strength of human spirit and creativity.

      I’m afraid I can agree with you about the English Democrats, however. Each to their own though.

      • Alan Vaughn says:

        I think you meant you can’t agree with Tap about the English Democrats. I’m with you archer. The time has long passed when everyone should be over the very concept of any governments. There is now no doubt that ALL of them are treacherous liars who are clearly not interested in our welfare, our human rights or freedom. The only interest they have in us is in enslaving us and controlling EVERYTHING we do, to their advantage, and making our lives a total misery, so why does anyone want them at all?
        If people would only open up their minds and start thinking outside the box for a bit, they would soon realize that life is possible and would be so much better without authoritarian governance.
        We don’t need them.
        A major people’s revolt to change this evil system is long overdue.

      • Aldous says:

        Hi Tap, archer, Alan.
        I think it was Lenin who (infamously) said: “The best way of controlling the opposition is to lead it ourselves,” – or words to that effect. Political parties do nothing but lead the electorate down a never-ending blind alley – as intended.
        A late colleague of mine used to refer to the UK political system as ‘the LibLabContrick/LibLabConspiracy’ or similar, ‘the one political party with three names’.
        Robin Tilbrook and the English Democrats will achieve little if nothing in real terms, apart from giving certain segments of the electorate false hope. That’s the inconvenient truth and reality.
        The satanic murderous scum running this ELE (Extinction Level Event) show have no intention of giving up quietly but every intention of undermining, subverting, outmanoeuvring, demonizing and murdering if necessary, anyone who gets in their way or they perceive as a threat.
        That’s what we are dealing with.

      • Alan Vaughn says:

        Thank you Aldous, very true and well put.

      • archer says:

        You’re right, Alan. I did mean that I can’t agree with Tap about Tilbrook. Seems to be some goodness in the man, but I dislike his jingoistic nature.

  3. Aldous says:

    I ‘m sure the image is meant to be symbolic (and subliminally threatening) with Sunak’s one eye covered’, as in the Illuminati’s/Deep State’s ‘Eye of Soros’.
    It is not a facepalm which typically covers both eyes. Or perhaps, Sunak is having vision problems and should go to Specsavers post haste?
    Either way, the ‘Office of Chancellor of the Exchequer’ which he occupies is entirely symbolic nowadays and I suspect Sunak couldn’t find its way around an Abacus.

  4. Aldous says:

    ‘Some people who are unable to use a calculator because of visual impairment may use an abacus.’

    Perhaps Sunak can and does use an Abacus. God help the UK.

  5. Aldous says:

    “Government Borrowed £19 Billion in February, Pushing National Debt Up to £2.13 Trillion”

    Borrowed from who? Debt to who? BIG questions! Printing counterfeit currency was a crime the last time I checked and ‘usury’ was once punishable by death!

    Money as Debt I – Revised Edition 2009 (Full Movie) – 46:20 (includes comments)

  6. Gordon Logan says:

    Sunak is yet another incompetent political parachutist. Somebody should tell him to order the BoE to create the money.. It’s been done before. Unfortunately, the Tories are traitors who work for the money markets, eg the Rothschilds, not the British people. It’s time to put up a gallows in Whitehall.

    • Aldous says:

      “Somebody should tell him to order the BoE to create the money.”
      I wish I knew what drugs you are on Gordon because I could do with a quick fix in the run-up to Holy Week with nowhere open to get pissed out of my brain on this godforsaken Earth.
      God and I have a turbulent relationship with one another and I’m sick to death of always being on the losing end. Why does He always have to win?
      The Rot’s Bank of England are creating all the debt money(sic) that Brits are digging their own graves for. Regards.

      What You Didn’t Know About Taxes & The ‘Crown’

      By Mark Owen

      There are two Crowns operant in England, one being Queen Elizabeth II. Although extremely wealthy, the Queen functions largely in a ceremonial capacity and serves to deflect attention away from the other Crown, who issues her marching orders through their control of the English Parliament. This other Crown is comprised of a committee of 12 banks headed by the Bank of England (House of Rothschild). They rule the world from the 677-acre, independent sovereign state known as The City of London, or simply ‘The City.’

      The City is not a part of England, just as Washington is not a part of the USA.

    • Aldous says:

      “…Tories are traitors who work for the money markets…”

      Don’t let crypto Starmer and fake Labour off the hook. He works full time for the usual suspects too. It’s all a huge con. Starmer is married to a Jew and brings his family up in the Jewish faith. An Israeli firster bar none.
      Genuine Brits mean absolutely nothing to him and the working class even less if that was ever possible. He likes taking the knee to Soros outfits like BLM etc. An out and out traitor like BoJo.

      • archer says:

        Absolutely, Aldous. New Labour are as bad – if not worse – than the Tories. Everything since Blair, barring Corbyn (although far from perfect, himself), has been terrible.

        Have you heard of Paul Embery and his views on The Labour Party. Common sense and talks a lot of good, but sadly no hope in contemporary politics as he is too honest and forthright.

  7. Aldous says:

    Just a thought but what’s with Sunak’s red ‘bracelet’ on its right wrist?
    Is it meant to convey some sort of ‘I’ve had the Covid-19 mRNA jab’?
    He does look Transhumanlike.

    “…the next planned step of requiring mandatory vaccines and a cute bracelet…”

  8. Tapestry says:

    Re English Democrats, I find Robin Tilbrook the Chairman most knowledgeable and helpful in taking on bureaucracy. During the first lockdown he helped businesses to re-open their doors by explaining the click and collect rules to small businesses free of charge, where he should be charging by the hour. He’s now helping parents battling school authorities about testing and mask wearing. He is not the same as Farage who was not approachable beyond a thirty second get rid of you, do this for me, conversation. The Tories are the biggest crooks. Starmer a paedophile protector. Tilbrook is human. He’s the only one I’ve known in politics in over thirty years – since John Biffen resigned. I would revisit Tilbrook if I were you. We need legal advice, the law to be functioning and someone who’s prepared to help when we are in trouble. Don’t spit him out. He’s on our side. The Achilles heel of the bureaucrat is they hate to be shown up as being wrong and they run when successfully challenged.

  9. Gordon Logan says:

    You’re 100% wrong about money creation, Aldous. Google ‘Positive Money’. They are supported by several big shots like Martin Woolf of the FT and Lord Adair of the FBI. The Tories ordered £400 billion from the BoE a few years ago. Obviously the bankers prefer the government to borrow from them. The government usually obliges because it serves big business rather than us. Positive Money has excellent books and pamphlets on money, and also videos on YouTube. You’ll be an expert in no time. However you’re right in thinking that private money creation has bankrupted the world (except Russia and China, who have ‘flown the coop’).