06-25-2025, 07:02 PM
The Liberal Party notes with grave concern the continued monthly deficit being run by the UK government, which stretched to £17.7 billion in May 2025.
This amounts to the second largest May borrowing figures on record and follows a deficit of £20.2 billion April. Such deficits accelerate the approach of UK total government debt of 100% of GDP and total public debt of £3 trillion.
Whilst we acknowledge that much of the accumulated deficit is the result of high interest payments, this emphasis the total cost of ever-increasing burrowing and we believe that the government finances need to be put on a firm footing.
As a first step we would propose freeing the SME and small business sector from excessive administration and red tape to speed up economic activity, including raising the VAT registration threshold to £150k and revoking the increase in employee NI payments which stifle employment.
This amounts to the second largest May borrowing figures on record and follows a deficit of £20.2 billion April. Such deficits accelerate the approach of UK total government debt of 100% of GDP and total public debt of £3 trillion.
Whilst we acknowledge that much of the accumulated deficit is the result of high interest payments, this emphasis the total cost of ever-increasing burrowing and we believe that the government finances need to be put on a firm footing.
As a first step we would propose freeing the SME and small business sector from excessive administration and red tape to speed up economic activity, including raising the VAT registration threshold to £150k and revoking the increase in employee NI payments which stifle employment.