Friday, May 22, 2020

UK BORROWING SOARS AMID CORONAVIRUS CRISIS

The UK government borrowed £62.1 bn ($75 bn) in April due to the effects of the coronavirus pandemic.

That's the highest monthly figure on record.

The government has been borrowing to fund job retention schemes, as well as loans and grants for businesses and individuals affected by the crisis.

Carl Emmerson from the Institute For Fiscal Studies says the key for public finances will be how long this level of borrowing persists.

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