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UK Debt Soars Past £3 Trillion Amid Rising Unemployment

1/3/2026

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Summary

Story summary

Britain's debt is set to surpass £3 trillion this year, according to the Office for Budget Responsibility.
The Office for Budget Responsibility forecasts debt above £3.5 trillion by 2030-31.
The Chancellor plans to borrow over £430 billion in the next five years.
Unemployment has risen from 4.1% to 5.1% since Labour took office.

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Story summary

Britain's debt is set to surpass £3 trillion this year, according to the Office for Budget Responsibility.
The Office for Budget Responsibility forecasts debt above £3.5 trillion by 2030-31.
The Chancellor plans to borrow over £430 billion in the next five years.
Unemployment has risen from 4.1% to 5.1% since Labour took office.