UK reports biggest July budget surplus for 18 years

Philip Hammond given more scope to increase NHS spending in autumn budget

Britain has recorded the biggest July budget surplus since the millennium, giving a boost to Philip Hammond as he considers ways to pay for greater NHS spending in the autumn budget.

The Office for National Statistics said public sector net borrowing, excluding the state-owned banks, went into surplus for July by 2bn, meaning the government received more in tax income than was spent on public services.