British will announce the heaviest public borrowing since World War 2, next week, after the biggest economic crash in over 300 years.
With Britain in the midst of a second wave of Covid-19 cases and economic recovery on hold, Finance minister Rishi Sunak will spell out his spending plans.
He has also postponed longer-term plans for the public finances.
As Sunak starts to look for ways to begin reining in the huge surge in borrowing, he plans to freeze pay for public-sector workers other than health staff.
Spending on the pandemic is on track to exceed 200 billion pounds ($265 billion) this year after the extension of job protection programs, and other costs are likely to spill into the 2021/22 fiscal year.
Therefore, government borrowing this financial year is likely to be around 400 billion pounds. Disable top injection
Disable bottom injection