LONDON, Oct 20 Reuters Britain recorded a smallerthenexpected budget deficit of 14.347 billion pounds 17.37 billion in September, the Office for National Statistics said on Friday.

A Reuters poll of economists had pointed to public sector net borrowing, excluding stateowned banks, of 18.3 billion pounds.

Government borrowing between April and September, the first half of the 202324 financial year, totalled 81.7 billion pounds, 15.3 billion pounds more than in the first half of the previous financial year.

British finance minister Jeremy Hunt is due to give a midyear update on his budget plans alongside new borrowing forecasts from the Office for Budget Responsibility OBR on Nov. 22.

Hunt said last week higher interest rates were likely to cost Britain an extra 20 billion to 30 billion pounds a year, and has all but ruled out nearterm tax cuts, saying the government needed to prioritise bringing down inflation.

Many members of Hunt39;s Conservative Party want him to announce plans to lower taxes before national elections which are likely to be held some time in 2024.

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Reporting by David Milliken, editing by William James

Source Reuters