UK budget deficit was lower than expected in October

The U.K. Office for National Statistics (ONS) reported that the budget deficit in October was lower than expected, despite the introduction of measures to support energy prices.

According to the report, public sector net borrowing was £13.549 billion ($16 billion) in October.

Economists had expected a budget deficit of £22 billion in October. This figure was to reflect the first tranche of government measures to support energy prices, which are intended to help households and energy suppliers.

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