The UK budget deficit narrowed in February from the last year but the shortfall was the second-highest for the month of February since records began in 1993, the Office for National Statistics said on Tuesday. Public sector net borrowing excluding public sector banks was GBP 13.1 billion in February, which was GBP 2.4 billion less than in February. In the financial year-to-February, PSNB excluding banks totaled GBP 138.4 billion, the third-highest financial year-to-February borrowing since monthly records began in 1993.
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