Covid government borrowing results in highest debt-to-GDP ratio since 1960
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Steep falls in tax receipts and higher Whitehall spending pushed UK public finances into a £36.1bn deficit in September while inflation rose to 0.5%, according to the latest official figures.
Illustrating the cost of the UK government’s battle with Covid-19, the Office for National Statistics said last month’s spending deficit sent the figure for the first six months of the financial year to £208.5bn.
