We are now in a worse position than during Liz Truss’s mini-Budget crisis:
£2.87 trillion total debt — nearly £58,000 per adult
£95bn borrowed since August 2024, overshooting forecasts by £55bn
£20.7bn borrowed in June 2025 — the second-highest June on record (after Covid)
Over £100bn every year now goes on debt interest alone — more than the education budget for schools
30-year gilt yields at 5.7%, the highest since 1998
The markets are sending a clear message: they don’t trust Labour’s plan. Higher borrowing costs mean higher mortgages, higher rents, and eventually higher taxes for everyone.
“Credibility is cheaper than debt — and right now, Britain is paying the price.”
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