UK Public Debt Exceeds 2 Trillion Pounds Amid Pandemic Spending

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.