Pierre Pratabuy
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/ 24 April 2006

UK’s public finances in worst shape since 1994

United Kingdom’s public finances chalked up the worst deficit in 12 years during the 2005/2006 fiscal year, official data showed on Monday, dealing a blow to Finance Minister Gordon Brown’s forecasts. Economists said that the worsening state of the public purse pointed towards likely tax hikes or public-spending cuts in the near future.