In report on global economy, thinktank proposes extra borrowing is needed into 2021

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Governments must fight imposing spending gashes and hefty levy rises before their own economies have recovered from the effects of coronavirus lockdowns, a contributing world thinktank has warned.

In its quarterly health check of the global economy, the Organisation for Economic Co-operation and Development( OECD) said it would be necessary to continue borrowing extra monies into next year to support the worst-hit households and enterprises despite concerns about mounting public sector debts.

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