UK government surplus gives Philip Hammond pre-budget boost
by Phillip Inman from on (#2DDFA)
Borrowing bill hits lowest January level in 17 years, putting chancellor in position to ease some austerity plans
A boost in self-assessment tax receipts and a bumper flow of capital gains tax to the exchequer has sent the government's borrowing bill to its lowest January level in 17 years.
The boost in January's tax receipts is expected to put the chancellor, Philip Hammond, in a position to ease some of the Treasury's planned austerity in the next financial year when he stands up to deliver his first full budget in a fortnight.
Related: UK tax burden will soar to highest level for 30 years, warns IFS
Related: UK tax burden will soar to highest level for 30 years, warns IFS
Continue reading...