Islam Times - UK Public Debt Exceeds 2 Trillion Pounds Amid Pandemic Spending

Islam Times - Britain's public debt crossed the two trillion-pound mark for the first time back in July, according to official data.

The United Kingdom has experienced its deepest recession since records began. According to official statistics, its output shrunk by 20.4% in the second quarter of 2020.

The employment rate also decreased by 220,000 during the same period, showing the largest quarterly drop in over a decade.

The country had to significantly increase public spending amid the coronavirus crisis, as the UK remains among the worst-hit countries in Europe.

In June, the cabinet pledged to spend billions of pounds back to rescue the British economy, hit by the COVID-19 pandemic.