The UK government has announced an unexpected budget surplus of £5.42 billion for January. They said income-tax profits are at an all-time high and the government spent less than it received.
– which paid £400 to households over six months to help cut their bills – cost a further £1.9 billion.
This included £6.7 billion of interest on government debt – the highest January reading since records began. Chancellor Jeremy Hunt said: ‘We are rightly spending billions now to support households and businesses with the impacts of rising prices – but with debt at the highest level since the 1960s, it is vital we stick to our plan to reduce debt over the medium term.
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