Governments all over the world have turned to increasing public debt in order to pay their way out of the pandemic. Global sovereign debt is expected to climb by 9.5% to some £51 trillion this year.

RECORD US DEBT
This has seen the United Kingdom, for example, reported to reach the highest level of debt for centuries. The national debt there was £2.3 trillion at the end of February 2022. The United States Treasury too reported the same month that it’s national debt had surpassed £30 trillion for the first time in its history.
In Gibraltar, the Government publishes the cost of the Covid-19 pandemic in quarterly updates automatically informing the public as a matter of course. The latest figures point to a cost to the taxpayer of some £300 million.

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16-05-22 PANORAMAdailyGIBRALTAR