UK budget deficit narrows after boost from taxes and duties

Rise in VAT, corporation tax and stamp duty takings helps improve finances but analysts warn a balanced budget by 2020 remains tricky

A sharp fall in Whitehall spending and lower interest bills on government debt helped narrow Britain's public sector budget deficit in April.

A steady rise in tax receipts in the first month of the financial year also played a part following a record-breaking VAT haul, a bumper rise in corporation tax receipts and the rebound in stamp duty on property sales.

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