UK Posts Record Fiscal Surplus in Pre-Budget Boost for Hunt.

The UK has posted a record budget surplus of £16.7bn ($21.1bn) in January, driven by a significant tax take and falling interest costs on debt. The figures, released by the Office for National Statistics, leave the budget deficit at £96.6bn in the first 10 months of the fiscal year, £9.2bn less than forecast. The surplus raises the prospect of tax cuts in the March 6 budget, as Chancellor Jeremy Hunt comes under pressure from grassroots Conservatives to rescue the party's political fortunes ahead of a general election expected later this year.

February 21, 2024
37 Articles

Further Reading