This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-25030293

The article has changed 4 times. There is an RSS feed of changes available.

Version 0 Version 1
UK public finances improve in October as economy grows UK public finances improve in October as economy grows
(35 minutes later)
The UK's public finances improved in October, as a recovering economy and housing market boosted tax revenues.The UK's public finances improved in October, as a recovering economy and housing market boosted tax revenues.
Borrowing, excluding the cost of interventions such as bank bailouts, fell to £8.08bn in October, down from £8.24bn in the same month last year, the Office for National Statistics (ONS) said.Borrowing, excluding the cost of interventions such as bank bailouts, fell to £8.08bn in October, down from £8.24bn in the same month last year, the Office for National Statistics (ONS) said.
The fall came despite the £2bn of shares sold in the flotation of Royal Mail not being included in the figures.The fall came despite the £2bn of shares sold in the flotation of Royal Mail not being included in the figures.
Total net public debt rose to £1.207tn.Total net public debt rose to £1.207tn.
This takes net public debt to 75.4% of gross domestic product (GDP), the highest percentage for the month of October on record.This takes net public debt to 75.4% of gross domestic product (GDP), the highest percentage for the month of October on record.
The government's target is to keep the 2013-14 borrowing figure at £120bn or below, representing about 7.5% of GDP. Boost
On current estimates, it looks like this target will be achieved. The government's target is to keep the 2013-14 public sector net borrowing requirement at £120bn or below, representing about 7.5% of GDP.
On current projections, it looks like this target will be easily achieved.
Seven months into the current 2013-14 tax year, the deficit, excluding the cost of bailouts and the effect of the Royal Mail pension transfer, was £64.8bn, down 8.2% compared to the same period last year.
In October, central government receipts reached £48.7bn, 3.2% higher than in the same month last year, as the recovering housing market helped to boost stamp duties by nearly 46%.In October, central government receipts reached £48.7bn, 3.2% higher than in the same month last year, as the recovering housing market helped to boost stamp duties by nearly 46%.
Howard Archer, chief UK and European economist at IHS Global Insight, said: "The October public finance data show further underlying improvement compared to a year ago, thereby providing more support to Chancellor George Osborne as he prepares his Autumn Statement for delivery on 5 December.
"Indeed, the chancellor must be feeling an awful lot happier about life now than when he was preparing his Autumn Statement last year."