Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of trends in the levels of Government borrowing in the last five years.

Trends in the level of borrowing in the last five years reflect the UK dealing with the consequences of significant global shocks.

By 2018-19, the Government had succeeded in reducing the deficit from the 2009-10 peak by four-fifths. However, following the actions taken during the pandemic, borrowing reached a post-war high in 2020-21. While it decreased in 2021-22, this still remained more than double the level seen in 2019-20. Borrowing is expected to increase this year as the Government has taken action to support families and businesses with their energy bills.

You can find recent borrowing figures in HM Treasury’s Autumn Statement 2022 document, found here: AUTUMN STATEMENT 2022 (publishing.service.gov.uk)