Osborne Says U.K. Deficit Higher as Property Tax Is Overhauled

December 3, 2014 1:40 PM

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Chancellor of the Exchequer George Osborne announced a higher forecast for U.K. government borrowing as he overhauled the tax on buying homes and increased levies on multinational companies and banks.

Britain will borrow 91.3 billion pounds ($143 billion) in the current fiscal year, Osborne said in his end-of-year update to Parliament in London today, citing estimates from the Office for Budget Responsibility. The OBR forecast in March that borrowing would be 86.4 billion pounds after accounting ...

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