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Public finances: 'More difficult policy choices'

The UK's public finances improved in October, as a recovering economy and housing market boosted tax revenues.

Borrowing, excluding the cost of interventions such as bank bailouts, fell to £8.08bn in October, down from £8.24bn in the same month last year, the Office for National Statistics (ONS) said.

Chief Secretary to the Treasury Danny Alexander told BBC News it was a "welcome modest improvement".

However, he added, the figures were a reminder that, "we're going to continue to have to take difficult policy choices to get our deficit down."

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