The U.K. has recorded the biggest budget surplus on record as a bumper month for the public finances was augmented by a surge in inflows of capital gains tax and lower debt payments
The Treasury recorded a surplus of £30.4bn in January which was double year’s surplus and £6.3bn above the Office for Budget Responsibility’s (OBR’s) latest forecast in November.
Figures released this morning show that Public sector borrowing is down by 11.5% so far in 2025/6 compared to 2024/5.
ONS chief economist Grant Fitzner said: “January – which is traditionally a strong month for self-assessed tax receipts – saw the highest surplus since monthly records began.
“Revenue was strongly up on the same time last year, while spending was little changed, due to lower debt interest payments largely offsetting higher costs on public services and benefits.”
