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UK's Sunak says of soaring borrowing: things could have been far worse

Wed, 21st Oct 2020 07:08

LONDON, Oct 21 (Reuters) - After statistics showed state
borrowing had soared while tax receipts had fallen, British
finance minister Rishi Sunak said on Wednesday that things could
have been far worse had the government not acted to protect
livelihoods.

"Whilst it's clear that the coronavirus pandemic has had a
significant impact on our public finances, things would have
been far worse had we not acted in the way we did to protect
millions of livelihoods," Sunak said.

"Over time and as the economy recovers, the government will
take the necessary steps to ensure the long-term health of the
public finances," he said.
(Reporting by Guy Faulconbridge; editing by Kate Holton)

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