Trea­sury boosts pub­lic purse with £50bn loan

The Daily Telegraph - - Front Page -

The Trea­sury is to bor­row an­other £50bil­lion in Au­gust as it races ahead to fight the coro­n­avirus pan­demic and plug a col­lapse in tax rev­enues. It means bor­row­ing will hit £275bil­lion in the open­ing five months of the fi­nan­cial year – putting ex­tra­or­di­nary strains on the pub­lic fi­nances as the coun­try reels from the big­gest chal­lenge since the Sec­ond World War. The fig­ures will spark con­cern that the UK will be pay­ing for the cri­sis for years to come through higher taxes. Busi­ness: Page 1

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