UK public finances slump to worst state in 15 years as borrowing soars

Telegraph
"The Government borrowed £16bn in November, the most since records began 15 years ago, underlining the dire state of the public finances as the economy enters recession."
"While alarmingly high, the government deficit projections contained in November's pre-Budget Report are already looking too low as the recession looks certain to be significantly deeper and longer than the government forecast," said Howard Archer, chief economist at IHS Global Insight.
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Holidays hit as pound sinks to a new all-time low against the euro
Mark O'Sullivan, dealing director at Currencies direct, said: 'This is likely to get worse as more investors lose confidence in the pound.' (Daily Mail)