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UK borrowing expected to rise materially next year

Darker post-Brexit outlook means policies the Conservative government had pursued since 2010 needed to change, says finance minister

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Mr Hammond has said that the Bank of England will be the first public body to offer stimulus if needed, but there will be greater pressure than before on the finance ministry to act too.

London

BRITAIN could borrow nearly £65 billion (S$116 billion) more than planned in the next couple of years as new finance minister Philip Hammond seeks to "reset" government budget policy to ease the shock of last month's vote to leave the European Union (EU).

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