UK budget surplus rose to 2.9 billion pounds in January

In the first month of the current year, the UK government budget surplus reached 2.9 billion pounds. In the same month of the previous year, there was a budget deficit of 2.5 billion pounds. The Statistical Office, which published the data, explained that the positive balance of the January budget was due to increased tax revenues. Last month, the country’s budget revenue increased by 91.6 billion pounds. In the identical month in 2021, this amount was £8.6 billion less. Current expenditures from the budget have increased to the previous year by 0.5 billion pounds to 76.3 billion pounds. The UK Treasury has spent 6.1 billion pounds on debt servicing. As of January 31, the country’s total public debt reached 2.3 trillion pounds or 94.9% of gross domestic product. This is a record value of more than 50 years.

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Arseny Kudrin

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