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Government Surplus Hits £30.4 Billion in January on Strong Tax Inflows

The UK government recorded its largest ever monthly budget surplus in January, driven by strong tax receipts and a sharp decline in debt servicing costs, official figures from the Office for National Statistics (ONS) revealed on Friday. Public revenues exceeded spending by £30.4 billion last month, the biggest surplus since monthly records began in 1993. […]

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UK Borrows £11.7bn in November, Exceeding City Forecasts

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The UK government borrowed more than forecast in November, underlining the fragile state of the public finances ahead of Chancellor Rachel Reeves’s autumn budget, according to official figures. Data from the Office for National Statistics (ONS) showed public sector net borrowing, the gap between spending and income stood at £11.7bn last month. Although this was

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Resolution Foundation: £20bn tax rises needed to stabilise UK finances

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The Chancellor should protect workers’ take-home pay while levelling the tax system, including a 2p cut in employee National Insurance (NI) funded by a 2p rise in Income Tax (IT) according to major new research from the Resolution Foundation. The think tank says the shift would raise £6 billion in a Budget expected to require

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