India, Aug. 21 -- The UK budget deficit widened more than officially estimated in July as spending growth outpaced receipts despite strong rise in revenues from income tax, data from the Office for National Statistics showed Friday.
Public sector net borrowing increased by GBP 0.7 billion to GBP 1.8 billion in July. This was GBP 2.3 billion above the forecast of Office for Budget Responsibility.
Self assessed income tax receipts increased by GBP 1.7 billion to GBP 17.1 billion in July, the highest in any July since monthly records began in 1999. Meanwhile, spending on public services, benefits and other costs was higher than a year earlier.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services...