UK budget deficit comes in above target, set to surge due to COVID

LONDON (Reuters) - Britain's government went slightly over its budget deficit target for the recently ended 2019/20 financial year which is likely to be dwarfed soon by a surge in public borrowing to soften the economic hit of the coronavirus shutdown.The Office for National Statistics said on Thursday that borrowing between April last year and March this year stood at 48.7 billion pounds ($60.2 billion), compared with the most recent estimate of 47.4 billion pounds by the country's budget..