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U.K. Budget Deficit Unexpectedly Swells on Spending Gain

Britain’s budget deficit unexpectedly widened in November as spending surged and a drop in income-tax receipts depressed government revenue.

The shortfall excluding government support for banks was 17.5 billion pounds ($28 billion) compared with 16.3 billion pounds a year earlier, the Office for National Statistics said in London today. The median of 19 estimates in a Bloomberg News survey was for a deficit of 16 billion pounds. Spending rose 6.3 percent and revenue gained 0.6 percent.