The UK budget deficit narrowed more than estimated in December on higher receipts and falling spending, giving room for the Chancellor to provide giveaways in the March budget ahead of elections.
The UK budget deficit narrowed in December, figures from the Office for National Statistics showed on Tuesday. Public sector net borrowing excluding public sector banks declined GBP 8.
European stocks retreated after a positive start Tuesday morning, and then stayed weak for much of the day's session before finally settling in negative territory, as investors were reluctant to make significant moves ahead of the European Central Bank's monetary policy announcement due later in the week.
European stocks closed lower on Thursday despite a positive lead from U.S. where stocks rebounded on bargain hunting. Investors continued to assess the outlook for interest rates, and digested the latest batch of U.
The UK budget deficit widened sharply to the second highest level for the month of March taking the overall borrowing for the financial year ending March 2023 to the fourth biggest on record, official data revealed Tuesday.