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[UK Budget Deficit Surges Beyond Expectations Due To Rising Borrowing Costs]The UK's Budget Deficit Exceeded Expectations Last Month Due To Rising Borrowing Costs. The Office For National Statistics Reported On Wednesday That The Total Budget Deficit For December Was £17.8 Billion ($21.9 Billion), More Than Double The £7.7 Billion Recorded In The Same Period Last Year. The Deficit For The First Nine Months Of The Fiscal Year Reached £129.9 Billion, £4 Billion Higher Than The Office For Budget Responsibility's Forecast. The December Increase Was Driven By Repayment Costs Of Inflation-Linked Bonds, Which Account For About A Quarter Of The Government's Debt Stock. Persistent Inflation, Surging Gilt Yields, And A Worsening Growth Outlook Have Put Chancellor Rachel Reeves At Risk Of Violating Her Own Fiscal Rules.
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