vendredi 20 mars 2015
U.K. Posts Smallest February Budget Deficit Since 2008 on Tax
Posted on 03:51 by nice news
Britain had its smallest budget deficit for any February since 2008 as the late arrival of self-assessed tax filings boosted government revenue.
Net borrowing excluding public-sector banks was 6.9 billion pounds ($10.2 billion) compared with 10.4 billion pounds a year earlier, the Office for National Statistics said Friday. The median forecast in a Bloomberg survey was 8.4 billion pounds. Revenue surged 7.2 percent and government spending fell 0.7 percent.
With the May general election on a knife edge, Chancellor of the Exchequer George Osborne is seeking to persuade voters that only his Conservative Party can be trusted to safeguard the recovery and erase a budget deficit that still amounts to 5 percent of gross domestic product. In his budget Wednesday, he held out the prospect of an end to austerity within four years. The Labour opposition says the Tories are planning “extreme” spending cuts in the meantime that would damage public services.
Net borrowing excluding public-sector banks was 6.9 billion pounds ($10.2 billion) compared with 10.4 billion pounds a year earlier, the Office for National Statistics said Friday. The median forecast in a Bloomberg survey was 8.4 billion pounds. Revenue surged 7.2 percent and government spending fell 0.7 percent.
With the May general election on a knife edge, Chancellor of the Exchequer George Osborne is seeking to persuade voters that only his Conservative Party can be trusted to safeguard the recovery and erase a budget deficit that still amounts to 5 percent of gross domestic product. In his budget Wednesday, he held out the prospect of an end to austerity within four years. The Labour opposition says the Tories are planning “extreme” spending cuts in the meantime that would damage public services.
U.K. Posts Smallest February Budget Deficit Since 2008 on Tax
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