British official state borrowing falls slightly in May

21st June 2011, Comments 0 comments

British government borrowing fell slightly in May, boosted by rising taxation receipts, official data showed on Tuesday.

Public sector net borrowing hit £17.4 billion (19.6 billion euros, $28.2 billion) in May, the Office for National Statistics (ONS) said in a statement.

That compared with net borrowing of £18.5 billion in May 2010, and beat market expectations for £17.0 billion, according to analysts polled by Dow Jones Newswires.

The ONS added that an alternative measure of the deficit, the public sector net cash requirement, climbed to £11.1 billion in May. The PSNCR leapt from a level of £2.4 billion in the same month of last year.

© 2011 AFP

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