Brexit & EconomyPoliticsPublic finances improve in April

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
chancellor
Gordon Brown
before he takes over as prime minister.

Further reading:

CBI calls for Brown to cut corporation tax

PwC: public sector should maximise outsourcing

Treasury silent on private finance change

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

3m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter