Public sector net borrowing excluding public sector banks (borrowing) in January 2024 was in surplus by £16.7 billion, more than double the surplus of January 2023 and the largest surplus since monthly records began in 1993 in nominal terms. Each January tax receipts are always higher than in other months, owing to receipts from self-assessed taxes; combined self-assessed income and capital gains tax receipts were £33.0 billion, £1.8 billion less than a year earlier. Borrowing in the financial year-to-January 2024 was £96.6 billion, £3.1 billion less than in the same ten-month period a year ago; this is the first ... (full story)