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Britain cut its budget deficit by slightly less than expected last month but a better than previously thought performance in November could help Chancellor Philip Hammond to hit his target for the current financial year. Official figures on Tuesday showed public borrowing in December alone fell by 5 percent to 6.9 billion pounds, higher than a median forecast of 6.7 billion pounds in a Reuters poll of economists. The Office for National Statistics revised the shortfall in November to 11.3 billion pounds from a previous estimate of 12.6 billion pounds.
(Reuters) - Centrica-owned British Gas has to pay 9.5 million pounds ($11.9 million) in compensation to customers who faced billing problems after the household energy supplier upgraded its system in 2014, UK energy market regulator Ofgem said on Tuesday. Ofgem said British Gas, Britain's biggest energy supplier, had shown failings in its registrations, complaints handling and billing processes for business customers and over 6,000 new customers had experienced delays registering with the supplier. The 9.5 million pounds comprises payments to affected customers and payments to a charity to help energy customers in need, Ofgem added.