U.K. budget surplus falls as income taxes decrease

Source: Bloomberg
© Scanpix/Reuters
The government of the United Kingdom announced a worse-than-predicted budget surplus during the first month of this year amid declining revenue from company's profits and private incomes. Revenue was unchanged year-on-year, but spending rose 0.8%. This resulted in a 4.7 billion pounds surplus versus 6 billion pounds the year before. Analysts expected an 8 billion pounds surplus.
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