Coronavirus: UK government borrowing could top £300bn, says think tank

The centre-right CPS think tank today produced a more up-to-date assessment, saying the total could be £301bn.

It said the cost of the support schemes themselves could add £127bn on to borrowing, with £119bn lost due to lower tax receipts and higher welfare payments. However, the CPS cautioned that any predictions in the current climate are deeply uncertain.

Top 10 biggest government programmes

Scheme Cost in 2020-21
Coronavirus job retention scheme £42bn
Small business grant schemes £15bn
NHS historical debt write-off £13bn
Self-employment income support scheme £10bn
Welfare £7bn
NHS emergency response funding £6.6bn
Coronavirus business interruption loan scheme £6bn
Rail emergency measures £3.5bn
Local authority funding £3.2bn
Devolved administration public service funding £2bn

Data compiled by CPS from OBR and other sources


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Date Added: Tuesday 21st April 2020