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Borrowing hits record levels as crisis bites

The UK�s public finances deteriorated badly in September, with public sector net borrowing soaring to a record level as spending outpaced tax receipts amid the worst economic crisis since the 1930s, the Office for National Statistics reported yesterday.

The UK's public finances deteriorated badly in September, with public sector net borrowing soaring to a record level as spending outpaced tax receipts amid the worst economic crisis since the 1930s, the Office for National Statistics reported yesterday.