UK public debt breaches 2 trillion-pound mark for first time Britain’s government debt has breached the 2 trillion-pound ($2.6 trillion) mark for the first time after heavy borrowing to support the economy during the coronavirus pandemicLONDON -- Britain's government debt has breached the 2 trillion-pound ($2.6 trillion) mark for the first time after heavy borrowing to support the economy during the coronavirus pandemic. That pushed up debt to 2.004 trillion pounds. The increase also means that the country's debt is now higher than the value of its economic output. The U.K.'s debt is worth 100.5% of its annual GDP, the first time it has gone beyond 100% since 1961. The statistics agency said retail sales rose by a monthly 3.6% and are now 3% above pre-pandemic levels.

Source: ABC News August 21, 2020 10:45 UTC