United Kingdom

UK-economy-decline

The Decline Of The UK Economy (III)

Part II As the costs of funding debt increased throughout 2023-24, 8.4 % of government spending was allocated to debt servicing, amounting to £102 billion, leading to increased income taxation to fund interest payments on UK government debt. Tax revenues recorded by HMRC reached £ 827.74 billion for the 2023-2024 […]