UK government sees surprise budget surplus in Januaryon February 21, 2023 at 7:43 am

- Advertisement -
- Advertisement -
- Advertisement -
- Advertisement -

It comes despite “substantial spending” to help households with energy bills.

Bank of England, City of LondonImage source, Getty Images

The UK government recorded a surprise surplus in its finances in January despite “substantial spending” to help households with energy bills and one-off payments to the EU.

The government spent less than it received in tax in the month, resulting in a surplus of £5.4bn.

Economists had forecast borrowing of £7.9bn, but record self-assessed income tax receipts led to the surplus.

The figures come as the government is set to deliver its Budget next month.

- Advertisement -

Discover

Sponsor

Latest

World Match Play Championship: Scottie Scheffler and Rory McIlroy advanceon March 24, 2023 at 10:15 pm

World number one Scottie Scheffler and Rory McIlroy both reach the WGC-Dell Technologies Match Play knockout stage with perfect records.World number one Scottie Scheffler...

Chelsea 3-2 Man City: Watch Erin Cuthbert’s FA Cup final stunner from every angleon May 16, 2022 at 5:04 am

Watch Erin Cuthbert's long-range goal in Chelsea's 3-2 FA Cup final win against Manchester City from every angle.

Farewell radiators? Testing out electric infrared wallpaperon February 5, 2023 at 1:44 am

Pilots are being run around the UK to see if electric wallpaper could be an efficient way to heat homes.Pilots are being run around...

World Cup 2022: Brazil ‘in pain’ after exit on penalties against Croatiaon December 9, 2022 at 9:11 pm

Brazil had danced into the quarter-finals of the World Cup but their dreams of a showpiece jig in the final ended in tears at...

Mexico truck crash: At least 49 people killed as trailer overturnson December 10, 2021 at 1:51 am

Dozens are injured when a trailer crammed with Central American migrants overturned, officials say.Image source, ReutersAt least 49 people have been killed and dozens...