LONDON (AP) — Britain has seen its budget deficit rise during the coronavirus pandemic to its highest level since the year after the end of World War II. The Office for National Statistics said Friday public sector net borrowing reached 303.1 billion pounds ($420 billion) in the financial year to end-March. This was equivalent to 14.5% of the country’s annual gross domestic product, the highest level since 1946, when the deficit hit 15.2% of GDP. The government has spent billions of pounds propping up the economy since the pandemic started more than a year ago, notably by covering the lion’s share of the salaries of people unable to work during the country’s many lockdowns and providing further support to hard-hit businesses.
