UK government borrowing higher than expected as income tax receipts fall

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UK government borrowing higher than expected as income tax receipts fall

Guardian – Britain’s public finances sank deeper into the red last month as weaker tax receipts from the recession-hit economy depleted the Treasury’s coffers. Figures from the Office for National Statistics showed that net borrowing excluding financial help to Britain’s banks stood at almost £18bn in May – up from just over £15bn in the same month in 2011. Read Article

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