UK national debt has passed £3 trillion for the first time, nudging 100% of GDP, up from 28.3% in 1990 and 64.6% in 2010. The UK borrowed £21.2 billion in September alone and is on course to add about £121 billion to debt this tax year, while the interest bill reached £109 billion last year. The article compares budget deficits of 4.3% of GDP for the UK, 5.4% for France and around 6.2% for the US, and notes US debt of $40 trillion (123% of GDP) and French government debt yields topping 5%. The author argues that Chancellor John Healey's Budget should focus on cutting spending, growing the economy and reducing debt so the UK does not end up like France.
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John Healeybudgetpublic debtUKpound sterling
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GBP/USD
▼ Likely negativeRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 1.33804 |
| Change that session | -0.15% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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