UK budget deficit narrows as shoppers boost VAT receipts
by Phillip Inman from Economics | The Guardian on (#32SG6)
Public finances still rising as a proportion of GDP despite unexpectedly strong figures for August
Britain's public sector spending deficit dropped to its lowest August total since 2007 after an increase in VAT revenues and a squeeze on local authority borrowing.
The deficit in August stood at 5.7bn, down 18% compared with the same month last year, beating forecasts of 7.1bn in a Reuters poll of economists.
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