Public debt levels soar in August

The level of new public debt was just shy of £16bn (£15.9bn) in August, which the Treasury believes justifies its upcoming cuts.

The Office of National Statistics' (ONS) figures were expected to be around the £12.5bn (£12.51bn) mark, but interest levels on the debt were higher than anticipated due to inflation.

The Treasury notes that these stats "demonstrate just why the government needs to tackle the deficit," even though it could lead many Britons to seek debt advice due to tax increases and cuts in services.

Recent research from the BBC found that people from the North East and Midlands are going to struggle the most following the cuts, which could lead to more people in those areas seeking debt solutions, such as a Debt Management Plan or IVA.

Leading debt solutions expert, Atlantic Financial Management, is also seeing many of its clients struggling to keep on top of their debts as they try to juggle continuing increases in the cost of living with flat or reduced income.

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