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ONS says budget deficit £1.5bn higher than previous year due to extra spending on benefits and weaker tax revenuesJeremy Hunt’s plans for pre-election tax cuts have received a setback after higher spending on benefits and lower tax receipts pushed government borrowing above £20bn last month.The Office for National Statistics (ONS) said the budget deficit – the gap between public spending and tax receipts – was £1.5bn higher than a year earlier and the fourth highest for an April since records began. Continue reading…
ONS says budget deficit £1.5bn higher than previous year due to extra spending on benefits and weaker tax revenues
Jeremy Hunt’s plans for pre-election tax cuts have received a setback after higher spending on benefits and lower tax receipts pushed government borrowing above £20bn last month.
The Office for National Statistics (ONS) said the budget deficit – the gap between public spending and tax receipts – was £1.5bn higher than a year earlier and the fourth highest for an April since records began.
