Brexit & EconomyPoliticsOh Darling: Chancellor gets budget boost

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
reported.

The news has given a major boost to chancellor
Alistair Darling
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
the Treasury.

Further reading:

Darling considers private equity reforms

Darling confirms October PBR

Chancellor admits he used cannabis as a student

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