Mumbai, Jan. 22 -- The UK budget deficit narrowed more than expected in December driven by the increase in tax receipts, data from the Office for National Statistics showed on Thursday.
Public sector net borrowing decreased GBP 7.1 billion from the previous year to GBP 11.6 billion in December.
While borrowing was the lowest for December in two years, it still represented the tenth highest December borrowing since records began in 1993.
Current receipts increased 8.9 percent to GBP 94.0 billion, while current expenditure rose only 3.5 percent to GBP 92.9 billion. Tax receipts increased by GBP 4.6 billion to GBP 70 billion on higher income tax receipts.
Data showed that debt interest payable rose by GBP 0.2 billion to GBP 9.1 billion as ...