Hammond Enjoys Budget Respite as U.K. Fiscal Deficit Narrows
- Deficit at 1.8 billion pounds, least for a February since 2007
- Borrowing flattered by accounting changes, one-time effects
Hammond's U.K. Budget Announcement in Two Minutes
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Britain’s public finances are on a roll but officials don’t expect the good news to last.
The budget deficit last month was 1.8 billion pounds ($2.2 billion), the best performance for any February since 2007, the Office for National Statistics said Tuesday. Revenue surged 7.1 percent from a year earlier and spending rose just 0.5 percent.