Jeremy Hunt, UK chancellor of the exchequer, holding the despatch box as he stands with treasury colleagues outside 11 Downing Street in London, UK.. Bloomberg | Bloomberg | Getty ImagesLONDON — The U.K. logged a record £16.7 billion ($21.1 billion) net budget surplus in January, according to official figures released on Wednesday.
The Office for National Statistics noted that the country's public finances usually run a surplus in January, unlike during other months, as receipts from self-assessed annual income tax payments come in.
Combined self-assessed income and capital gains tax receipts totaled £33 billion in January, the ONS said, down £1.8 billion from the same period of last year.
Total government tax receipts came in at a record £90.8 billion, up £2.9 billion compared to January 2023.
The figures on Wednesday mark the final set of public finances data before Finance Minister Jeremy Hunt delivers his Spring Budget, which outlines the government's fiscal policy for the year, on March 6.
Persons:
Jeremy Hunt, Laura Trott, Hunt
Organizations:
Bloomberg, Getty, National Statistics, Finance, Labour Party
Locations:
London, Covid, Ukraine