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UK budget deficit narrows by 5% in May to £6.7b
Published Wed, Jun 21, 2017 · 09:50 PM
London
BRITAIN'S budget deficit narrowed last month, helped by a recovery in value-added tax receipts and giving Chancellor Philip Hammond some respite ahead of an expected increase in borrowing later this year.
The deficit in May stood at £6.7 billion (S$11.8 billion), down nearly 5 per cent compared with the same month last year, the Office for National Statistics said, citing figures that exclude state-controlled banks.
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