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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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).
Ratings agencies and economists widely expect borrowing to rise materially next year for the first time since 2010, as Mr Hammond has to call time - temporarily - on the austerity which dominated his predecessor George Osborne's six years in office.
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