Public finances improve in April
Good news for prime minister-in-waiting
Latest figures put out by the Office
for National Statistics have shown a decrease in public sector net borrowing
down to just £1.1bn in April 2007, against £2.8bn in April 2006.
An 10.6% rise in value added tax (VAT) receipts to £8.5bn, was the driving
force behind the improvement.
As a result, the current budget now has a surplus of £200m, compared with a
deficit of £900m in April last year.
The improved public finance performance is good news for
Gordon Brown before he takes over as prime minister.