Wed, 21 Aug 2013 10:23:12 GMT
Britain posts deficit in July
U.K. posted its first budget shortfall in July in three years after lawmakers increased its spending and that led to outstripping tax revenue. For comparison, net borrowing was 488 million Sterling from year earlier 823 million Sterling, according to the Office for National Statistics. It is expected that fiscal deficit will increase to 120 billion Sterling yearly or 7.5% of