UK Public Borrowing Shrinks As Tax Receipts Rise - Wall Street Journal

-- Public sector net borrowing falls on annual basis

-- Public sector cash requirement increases to GBP11.1 billion

-- Tax receipts GBP3 billion higher than a year ago

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LONDON (Dow Jones)--The U.K. public sector borrowed less in May than the same month last year due to a GBP3 billion increase in tax receipts, but economists stressed that the government still faces a formidable challenge to meet its borrowing targets.

The Office for National Statistics Tuesday said public sector net ...