Huge Borrowing Beats Budget Forecasts by £12.8 Billion

The ONS has released the latest public sector finance figures this morning. With worrying signs…

Self-assessment tax receipts in January have produced a fiscal surplus of £15.4 billion, the highest since monthly records began. Good news – until you take into account that the OBR had forecast a surplus of £20.5 billion for January in its October 2024 budget report.[…] Read the rest