Record Debt Costs Show Fiscal Pressures Facing Starmer Rivals (opens original article in a new tab)

UK government borrowing hit a six-year high in May due to record debt-interest costs, with a budget deficit of £23.3 billion and public debt at 95.1% of GDP, posing fiscal challenges for potential successors to Prime Minister Keir Starmer.

• UK government borrowing in May reached a six-year high due to record debt-interest costs
• The budget deficit for May was £23.3 billion, exceeding forecasts and previous years' figures
• Public debt stands at 95.1% of GDP, the highest since the early 1960s
• Fiscal pressures are expected to challenge any successor to Prime Minister Keir Starmer