Oh Darling: Chancellor gets budget boost
Biggest budget surpluses in recent years
Government coffers are looking very healthy after recording a £6.5bn surplus
during July thanks to a massive jump in tax receipts, the
Office of National Statistics has
The news has given a major boost to chancellor
so soon after taking over from Gordon Brown. However experts warned that,
despite the surplus, the government was falling short on its promise to cut back
borrowing and spending.
The running deficit so far this fiscal year is £10bn, against £9.2bn this
time last year.
The ONS figures showed that tax receipts rose 5.7% in the first four months
of the year – lower than the 6.5% predicted by