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DEUTSCHE BANK: Britain will have to borrow an extra £40 billion a year after abandoning Osborne's deficit plan

Abandoning George Osborne's deficit reduction plan will force the UK to tap the bond market for an extra £40 billion per year, according to analysts at Deutsche Bank. One of Philip Hammond's first moves on becoming Chancellor was to abandon predecessor George Osborne to reach a budget surplus by 2020 (collecting more in taxes than the government spends.) Hammond said in July: "The economy has taken a shock.
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