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The Office for National Statistics has revised down government borrowing figures for the last fiscal year and the current one after an error in the tax receipts used to calculate the data.
In a statement on Wednesday, the ONS said the tax authorities had alerted it to errors in VAT receipts. As a result of the error, the ONS said it had revised lower borrowing for the fiscal year that ended in March by £1bn and the total for the current fiscal year, which began in April, by £2bn.
The ONS has been under fire for months from politicians and the Bank of England because of a series of problems with its critical economic statistics, making it harder for policymakers to take decisions about how to steer the economy.
This is a developing story
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