Friday, November 20, 2020

UK BORROWING HITS NEW RECORD

UK government borrowing was £22.3bn ($29.57) in October, the highest figure for the month since records began.

It takes borrowing for this tax year so far to £214.9bn ($285bn), which is £169.1bn more than the same period for in the previous year.

UK Chancellor Rishi Sunak will publish his spending review next week, which will reportedly contain a public sector pay freeze to help stabilise finances.

Jonathan Athow, from the Office for National Statistics, says the coronavirus pandemic has thrown government budget plans in the air.

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