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U.K. Posts Largest Budget Deficit Since Modern Records Began

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(Bloomberg) -- Britain posted a record budget deficit in April as the government unleashed an unprecedented package to prevent the collapse of the virus-stricken economy.

The budget deficit stood at 62.1 billion pounds ($76 billion) last month, the Office for National Statistics said Friday. The figure is equal to the total borrowing in the whole of the previous fiscal year.

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