Analysis: chancellor may feel uneasy but it would be a colossal gamble to move for immediate withdrawal of Covid support
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It is hardly surprising that Rishi Sunak is uncomfortable about the amount of money the government is borrowing. No chancellor would be relaxed about presiding over a budget deficit that has already hit £270bn in the first nine months of the current financial year and is on course to hit £400bn – or around 20% of national output – by March.
There have been years when the UK has borrowed as much as it will in 2020-21, but only in wartime. In peacetime, what has happened since the start of the Covid-19 pandemic is unprecedented.
Continue reading… Source: The Guardian: Sunak has little choice but delay plans to reduce budget deficit ———