UK Public Finances – Fast Improving
UK Public Finance data released this morning shows a sharp improvement compared to where the Government’s finances were a year ago.Q2 2021 hedge fund letters, conferences and more Public Sector Net Borrowing in July almost halved, to £10.4bn, although this is still the second worst July for borrowing levels since records began. Both sides of the equation improved; spending fell by £2.9bn to £79.8bn, whilst government tax receipts of £70.0bn were up by £9.5bn on the prior year run-rate.Much of the improvement came from higher Self-Assessed Income Tax receipts, which improved by £3.7bn, or 76%, ...