UK budget deficit narrows after VAT and corporation tax boost

Office for National Statistics says government borrowing was £6.8bn in April, down nearly 27% from a year earlier

Britain’s public sector budget deficit narrowed more than expected in April, giving the chancellor, George Osborne, a boost as he renews his push to fix the country’s public finances.

The Office for National Statistics said public sector net borrowing, excluding state-controlled banks, totalled £6.8bn in April, down nearly 27% from a year earlier and the lowest shortfall for that month since 2008. Economists taking part in a Reuters poll had forecast a shortfall of £8.1bn.