July 10, 2020 / 4:43 PM / 25 days ago

BRIEF-Fitch Says UK Coronavirus Measures Add To Fiscal Cost, Consolidation Plan To Come

July 10 (Reuters) - Fitch:

* FITCH SAYS UK CORONAVIRUS MEASURES ADD TO FISCAL COST, CONSOLIDATION PLAN TO COME

* FITCH SAYS NOW EXPECT UK’S FISCAL DEFICIT TO WIDEN TO 15%-17% OF GDP IN 2020

* FITCH SAYS EXPECTS UK’S DEFICIT TO NARROWS TO 8%-10% OF GDP BY 2022 AS ECONOMY RECOVERS

* FITCH, ON UK, SAYS COST OF VAT, STAMP DUTY CUTS WILL DEPEND ON HOW FAR THE MEASURES BOOST CONSUMPTION IN AFFECTED SECTORS, BROADER ECONOMIC RECOVERY Source text: [bit.ly/2ZVqfwB]

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