Record tax receipts boost Brown

Record tax receipts boost Brown

Public finances in record July surplus

The UK Treasury recorded a record £6.3bn tax receipts surplus in July, more
than double the £2.7bn surplus recorded in the same month last year.

The current budget surplus was £4.4bn higher than a year ago at £8.4bn. Total
current expenditure climbed to £39.5bn in July, a rise of 5.6% on last year,
while total current receipts rose 11.4% to £48.2bn.

John Hawksworth, economist at PwC, said: ‘After generally disappointing
results in the first three months of 2006-07, bumper tax receipts in July look
to have put Gordon Brown broadly back on course to meet his Budget forecasts for
the public finances.’

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