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July 21st, 2009British Economy, LoansBBC News reports:
UK public sector borrowing in June was almost twice as much as a year ago, after the downturn shrank tax receipts.
Borrowing reached £13bn – a record high for the month of June – compared with £7.5bn in June 2008, the Office for National Statistics (ONS) said.
Total outstanding government debt rose to £799bn, or 56.6% of UK GDP – the highest since records began in 1974.
Tags: borrowing, GDP, Loans, Office for National Statistics, tax
