UK finances buoyed by influx of payments from wealthy taxpayers

Chancellor hails biggest monthly surplus in seven years as signal of economic recovery, but critics warn long-term challenges persist

The government's finances improved last month to post their biggest surplus in seven years, after an influx of delayed payments from wealthy taxpayers who benefited from a cut in the 50p top rate of tax.

Income tax receipts jumped 6.1% to 26.7bn, pushing the public finances 8.8bn into the black for the month - the largest monthly surplus since 2008.