U.K. Government Posts Biggest July Budget Surplus in 18 Years
- Tax receipts got seasonal boost from self-employed workers
- Government is ahead of target in reducing overall deficit
Photographer: Chris Ratcliffe/Bloomberg
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The U.K. budget surplus in July surged to the biggest since 2000 for the month as tax receipts picked up.
The surplus on the month was 2 billion pounds, more than the 1.1 billion pounds predicted by economists, the Office for National Statistics said on Tuesday. The April-July deficit for the financial year so far was 12.8 billion pounds, down more than 8 billion pounds from last year.