Public sector net borrowing in Britain reached 13 billion pounds in June, puffing up nation's net debt to £798.8 billion.

Figures from Office for National Statistics revealed that Britain's net debt of £798.8 billion is equivalent to 56.6 percent of countries gross domestic product.

Data compiled by ONS showed that public sector net borrowing was £5.5bn higher in June as compared to £7.5bn in June 2008.

Plunging taxes have made the situation worst. Income tax collections plunged by 3.9 percent, while corporation tax and VAT collections dropped by 14.1 percent and 15.9 percent respectively.

On the contrary, public spending jumped due to jump in the social benefit. For instance, unemployment benefits were claimed by a much larger no. of people as compared to last year.

In June total govt. outlay were recorded at £49 billion as compared with £44.2 billion in the previous year.

On the other hand, total receipts plunged to £35.5 billion, down 5.7 percent.

Mervyn King, Governor of Bank of England has described govt.'s borrowing levels as "extraordinary".

Economists have projected govt.'s net borrowing to hit £190 billion by the end of the year.