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Jul 22 2020, 08:45 IST/BST
June’s UK public finance data were better than expected, with slower growth in spending suggesting that government support was dialled down as the economy reopened. However, revenues were down 17%, a sharper pace of contraction than in April and May, suggesting the trough has not yet been passed. Of course, this may reflect a lag with the reopening of the economy, but also that the economic damage to the UK has been particularly severe.
Jul 22 2020, 08:45 IST/BST