UK government's borrowing target adrift after fall in tax receipts

Official figures show that the chancellor George Osborne will need to borrow more this financial year than the last

George Osborne's plan to cut the budget deficit remained off-track in February after self-assessment tax receipts increased by only a small margin.

Official figures showed that borrowing is likely to be higher in this financial year than in 2014-15, in breach of the chancellor's supplementary fiscal rule that the annual deficit falls in each year of the parliament.

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