British finance minister Rishi Sunak said on Tuesday that COVID-19 was having a major impact on the public finances, which would need to be fixed in future.
“It’s clear that coronavirus has had a significant impact on our public finances, but we know without our response things would have been far worse,” Sunak said after data showed borrowing hit a record 128 billion pounds in the three months to June.
“I am also clear that, over the medium-term, we must, and we will, put our public finances back on a sustainable footing.”
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