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Record UK government borrowing surplus in January

February 21, 2019 / BBC News

The chancellor's next Spring Statement has been given a lift after the government recorded its largest January borrowing surplus last month. Government finances were in surplus by £14.9bn last month, the largest January surplus since records began in 1993, official figures showed. The figure was £5.6bn greater than a year ago. The bumper surplus was driven by an increase in self-assessment income tax and capital gains tax receipts. Analysts said the reduction in borrowing should give Chancellor Philip Hammond extra money for his next economic update in the spring, amid acute Brexit concerns.