LONDON - The UK’s national debt hit a new record at the end of August as the public sector borrowed around £35.9 billion, the latest figures show. Debt hit £2,023.9 billion just weeks after passing £2 trillion for the first time ever in July. This is £249.5 billion more than the same time last year, according to new data from the Office for National Statistics. It pushed borrowing up to 101.9% of gross domestic product (GDP) after the public sector borrowed around £35.9 billion in August. The Government has thrown billions at offsetting the economic chaos caused by the Covid-19 crisis. It comes just a day after Chancellor Rishi Sunak announced an extension to loan schemes and a new Job Support Scheme to replace furlough.
