Britain, gearing up for a massive attack on public spending, reported better than expected borrowing data for May today.
The country had a public deficit of £16 billion sterling in May, the data showed ahead of next week's emergency budget.
The public sector net borrowing requirement, the government's preferred measure of public finances, compared with a deficit of £17.4 billion in May 2009, the Office for National Statistics said. The reading was lower than market expectations for a larger deficit of £19.5 billion.
The news come ahead of next Tuesday's emergency budget from Chancellor of the Exchequer Osborne, who is expected to unveil big spending cuts and tax hikes and to attack the huge public deficit.
