UK borrowing to exceed 15% of GDP as COVID-19 costs mount

LONDON (Reuters) - Britain's government is on track to borrow a record 298 billion pounds this year, equivalent to more than 15% of economic output, to cope with the economic damage being caused by the coronavirus.The Office for Budget Responsibility raised its forecast for public borrowing on Thursday by 25 billion pounds from April's 273 billion-pound estimate, which already represented a five-fold jump from its pre-lockdown prediction of 55 billion pounds.Government borrowing looks set to far..