Thursday, 21 December 2017

UK government borrowing falls £8.7bn in November



Public sector borrowing fell to £8.7bn in November, down £0.2bn from year earlier, partly thanks to higher income tax receipts, official figures show.

 
The figure leaves borrowing for the financial year to date at £48.1bn.


That is the lowest recorded at this time of the year since 2007, before the financial crisis.


Last month, the government's independent budget watchdog said it expected borrowing would total £49.9bn for the financial year to March 2018.


January typically brings a big surplus in the public finances thanks to annual income tax payments.
The Office for National Statistics figures showed that revenues from income and capital gains tax were up 6.2% in November from a year ago, and are now 3.4% higher for the year to date. Corporation tax revenues are unchanged.




BBC       News.