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U.K. Budget Deficit Narrows to Keep Osborne Plans on Target

Britain’s budget deficit narrowed in March, remaining within Chancellor of the Exchequer George Osborne’s borrowing plans for the year.

Net borrowing was 18.6 billion pounds ($30.7 billion), compared with 19.8 billion pounds a year earlier, the Office for National Statistics said in London today. The median of 11 forecasts in a Bloomberg News survey was for a shortfall of 20 billion pounds. The annual shortfall for the fiscal year that ended last month was 141.1 billion pounds, below a government forecast of 145.9 billion pounds.