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UK borrows 303 billion pounds in 2020/21 financial year

LONDON (Reuters) - Britain's government borrowed 303.1 billion pounds ($420.1 billion) in the financial year which ended last month, an increase of 246 billion pounds on the previous year as it resorted to a huge surge in spending and tax cuts to offset the economic hit from the COVID-19 pandemic.

($1 = 0.7214 pounds)

(Reporting by William Schomberg and Andy Bruce)