UK cannot simply borrow its way out of crisis - Sunak

British finance minister Rishi Sunak said he would protect the public finances over the medium term after a surge in spending to fight the coronavirus crisis. "We have a sacred responsibility to future generations to leave the public finances strong, and through careful management of our economy, this Conservative government will always balance the books," he said.

"If instead we argue there is no limit on what we can spend, that we can simply borrow our way out of any hole, what is the point in us?" Sunak was addressing the annual conference of his Conservative Party which is taking place online this year.