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Public debt levels soar in August

22/09/2010

The level of new public debt was just shy of £16bn (£15.9bn) in August, which the Treasury believes justifies its upcoming cuts.

The Office of National Statistics' (ONS) figures were expected to be around the £12.5bn (£12.51bn) mark, but interest levels on the debt were higher than anticipated due to inflation.

The Treasury notes that these stats "demonstrate just why the government needs to tackle the deficit," even though it could lead many Britons to seek debt advice due to tax increases and cuts in services.

Continue reading; Public debt levels soar in August

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