The British government borrowed £215 billion ($285 billion) in the first seven months of the financial year, the highest since records began in 1993, according to official statistics released on Friday. The COVID-19 pandemic, which was caused by the CCP (Chinese Communist Party) virus, has had a substantial impact on public sector borrowing, the Office for National Statistics (ONS) said in its latest report. Central government tax and national insurance receipts in the seven months to October fell by £38. 3 billion (or 9. 7 percent) compared with the same period in 2019. At the same time, government support for individuals and businesses during the pandemic contributed to an increase of £123. 5 billion (or 28. 5 percent) in central government day-to-day (or current) spending. Public sector net borrowing from April to October 2020 is estimated to have been £214. 9 billion, “£169. 1 billion more than in the same period last year and the highest…
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October 1, 2020
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