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Hunt announced big increases in welfare payments and the state pension alongside a bigger-than-expected, 2 percentage-point cut in the rate of social security contributions for employees, along with a smaller cut for self-employed workers.
International Business News: The British government's borrowing in the first seven months of the year was lower than expected, according to official data. Public sector net borrow
Britain's government borrowed less than predicted in the first seven months of the financial year, according to data from the Office for National Statistics (ONS). Government borrowing between April and October totalled 98.3 billion pounds ($122.49 billion), about 22 billion pounds higher than last year but nearly 17 billion pounds less than the Office for Budget Responsibility (OBR) forecast.