Market comment

UK public sector borrowing deteriorates in March


This morning’s figures for March show COVID-19 starting to hit the public finances, with the UK borrowing £3.1bn, ahead of expectations, and spending up 12% on the year. This is before the impact of COVID-19 is fully felt, with the UK deficit likely to rise from 2% in 2019 to well above 10% in the Budget year 2020/2021.

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Apr 23 2020, 08:20 IST/BST