25 January 2023 - UK debt to GDP ratio reaches 100%

The level of UK borrowing has risen to frighteningly high levels as the cost of support provided to counter the effect of the Pandemic is added to the new energy cap. The capo is set to be raised again in April, which will add to the pressure being felt by households struggling to cope with the cost of living crisis. The Public Sector Borrowing Requirement (PSBR) rose to £27.4 billion in December, up from a little over £21 billion in November. This is almost double the single month amount from December 2021. The Chancellor is reportedly looking at ways to both reduce the level of borrowing and how to service existing debt in the upcoming budget. He is already committed to a 10% increase in state pensions and certain benefits following his decision to comply with the triple lock. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.