UK posts highest ever budget surplus in Jan.

The UK recorded its largest ever budget surplus during January this year in over three decades, amounting to £16.7 billion, the highest since monthly records began in 1993 and double the surplus from a year ago, said the Office for National Statistics on Wednesday.

Central government tax receipts increased by £3.9 billion year-on-year to £111.4 billion, primarily driven by higher revenues from corporation tax, income tax, and Value Added Tax (VAT).

However, self-assessed (SA) tax receipts were slightly lower than last January. Net social benefits increased by £3.4 billion in January to £23.7 billion. This data provides a final assessment of the public finances before next month’s budget.