Bracing for Brexit, UK to ramp up borrowing, cuts growth forecasts

Britain ramped up its borrowing forecasts by much more than expected and said the vote to leave the European Union would weigh heavily on the economy, giving the government little room to ease the Brexit pressure on households and companies. Finance minister Philip Hammond said on Wednesday that Brexit made it "more urgent than ever" to invest in tackling Britain's long-term weaknesses, including one of the worst productivity growth rates among rich economies. "Our task now is to prepare our eco