UK announced it had posted highest budget deficit since the end of World War II, AP reported. The record high negative result was due to increased borrowing and spending, focused at offsetting the influence of the Covid-19 pandemic, The Office for National Statistics said. The biggest spendings were linked to different government stimulus programmes. Public sector net borrowing reached 303.1 billion pounds in the financial year to end-March. This was equivalent to 14.5% of the country’s annual gross domestic product, the highest level since 1946, when the deficit hit 15.2% of GDP.