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UK on course to borrow 350 billion pounds in 2020/21

Adel 9 July, 2020 1:14 pm Market Update

British government borrowing is on course to surge to around 350 billion pounds ($442 billion) this year following the latest spending measures announced by finance minister Rishi Sunak, the Institute for Fiscal Studies estimated on Thursday.

“Back in March, the government forecast a deficit of about 50 to 60 billion pounds this year. Our current estimate is it could well be around 350 billion pounds. There is a huge amount of uncertainty around that figure,” IFS deputy director Carl Emmerson said. according to Reuters

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