25 November 2020 16:32
Paul Craig, a portfolio manager at Quilter Investors, commented on this spending: "The scale of government borrowing is becoming somewhat of familiar story, with record amounts likely to remain with us for years to come. "Although the government borrowed less in October than they did in September, it is still vastly above 'normal' levels and net borrowing since April remains just north of 100 percent of GDP. "It is clear the recovery from Covid-19 will not be quite the dramatic V shape we were all hoping for, and with extra borrowing required for the current lockdown and furlough extension to March, it will be some time before things look 'normal' once again." As it stands, public sector net debt (excluding public sector banks) stands at 100.8 percent of GDP. READ MORE: State pension claimants may get a Christmas bonus from next week
