PUT THE POLITICIANS ON THE MINIMUM WAGE AND WATCH HOW FAST THINGS CHANGE
Civilisation has operated in two ways - To make one part of society more affluent and the other more wretched than would have been the lot of either in a natural state
There are Natural Rights and Civil Rights. Life, Liberty and the Pursuit of Happiness
Where Our Power to Execute Our Natural Rights is Perfect, Government has No Legitimate Jurisdiction
When the Forces for War are Greater than the Forces for Peace   Then the World is in Danger
Politics is not a Dirty Word. It is a Way of Life. How is Your Way of Life Today ?
no prisoners

MARCH 11th IS STILL BUDGET DAY – BEWARE THE IDES OF MARCH COME EARLY THIS YEAR

no prisoners

UK posts smaller than expected January surplus as new finance minister readies budget

 

 

LONDON, Feb 21 (Reuters) – Britain posted a smaller-than-expected budget surplus in January, a reminder of the constraints facing new finance minister Rishi Sunak as he prepares to deliver his first budget next month.

 

The surplus excluding public sector-owned banks stood at 9.813 billion pounds last month, down 18% from January 2019, the Office for National Statistics (ONS) said.

A Reuters poll of economists had pointed to a surplus of 11.3 billion pounds.

January is typically a surplus month for Britain’s public coffers because of seasonal flows of income tax.

 

The latest data showed increases in income and sales tax receipts, but corporation tax income fell in January compared with a year ago.

The improvement in revenue was cancelled out by a hefty 5.7% annual increase in current spending — reflecting an increase on spending on health announced by former prime minister Theresa May.

Britain paid 2.1 billion pounds into the European Union budget in January, up by 1.1 billion pounds on a year ago.

The government accounts were boosted by a 843 million-pound fine to be paid by Airbus for a deferred prosecution agreement with various countries.

Sunak said on Tuesday he will stick with the March 11 date for the government’s first post-Brexit budget, dispelling speculation that the plans, likely to entail a big increase in spending, would be delayed.

His predecessor Sajid Javid, who was already working on plans to increase public investment after a decade of tight controls on spending, resigned unexpectedly last week.

The ONS said borrowing in the first 10 months of the financial year stood at 44.8 billion pounds, 14.9% higher than it was for April 2018 to January 2019.

Reporting by Andy Bruce and William Schomberg

Similar Recent Posts by this Author:

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email