UK budget deficit narrows

Britain’s public sector budget deficit narrowed more than expected in April, giving chancellor George Osborne a boost as he renews his push to fix the country’s public finances.

The UK’s Office for National Statistics said public sector net borrowing, excluding state-controlled banks, totalled £6.8bn (€9.4bn) in April, down nearly 27% from a year earlier and the lowest shortfall for that month since 2008.

Economists taking part in a Reuters poll had forecast a shortfall of £8.1bn.