Government Boosted By Bumper Tax Receipts

The biggest government financial surplus for more than 2 years has been recorded as healthy income tax receipts last month swelled the treasury’s coffers.

The figures were better than the City had predicted and put the government on course to meet its fiscal target for the financial year.

The public sector net borrowing excluding the banking bailout showed a surplus of £3.7 billion compared with a shortfall of £1.3 billion this time last year. January is normally a month that brings in considerable revenue for the government, as it when self employed people pay part of their annual tax bill.

Ricky Steedman