US EditionUK public finances show record surplus in January
The UK recorded its highest monthly budget surplus since 1993, driven by a £17 billion surge in capital gains tax and lower debt interest costs, ONS data shows.
- On February 20, 2026, the Office for National Statistics reported a £30.4 billion public sector surplus in January 2026, the largest monthly surplus since 1993 and £15.9 billion higher than January 2025.
- Because of the Treasury's tax-threshold freeze, capital gains tax increased by £17 billion and self-assessment tax receipts rose by £3.6 billion, boosting revenues.
- Falling interest costs helped bring debt interest payments down by £5 billion to £1.5 billion, beating Office for Budget Responsibility forecasts by £6.3 billion.
- With the spring statement on March 3, 2026, Chief Secretary to the Treasury James Murray said the figures show the government has the plan to strengthen the economy and increase fiscal headroom, giving Chancellor Rachel Reeves something positive to point to.
- Retail sales volume rose 1.8% in January, and Paul Dales, chief economist at Capital Economics, said 'the big reduction in public borrowing and surge in retail sales support other evidence that the economy started the year looking a lot healthier.
20 Articles
20 Articles
Government records monthly budget surplus of £30.4 billion
Is this finally some good news for the UK economy? The government recorded a record monthly budget surplus of 30.4 billion pounds in January, with higher tax receipts far outweighing spending. We were in Westminster where Chancellor Rachel Reeves will be welcoming this.
UK Public Finances Show Record Surplus of $40.9 Billion in January
The UK recorded a record monthly surplus of 30.4 billion pounds (about $40.9 billion) in January, initial government estimates show on Feb. 20. The amount exceeded the 24.1 billion pounds ($32.5 billion) expected by the government’s Office for Budget Responsibility (OBR), according to the Office for National Statistics (ONS), and was the highest surplus since records began in 1993. The windfall has been put down to strong income tax and capital …
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