The Bank of England upgraded its outlook for the UK economy on Thursday, however long-term recovery remains unusually uncertain. Government borrowing levels continued to set new records last month, indicating the cost of supporting the UK’s economy during the pandemic. The ONS report that borrowing for the financial year to date – between April and February – has now reached and astronomical £278.8bn, a record for that period. Nick and Jo also look at the white paper ‘Restoring trust in audit and corporate governance’ – part of the reform includes measures that would force directors to take on much greater responsibility and liability for company accounts and require large businesses to be more transparent about finances.
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