UK politics
fromIrish Independent
2 weeks agoGovernment took in an extra 6m in excise duties last month
Excise duty receipts increased in March, but overall tax receipts show a decline in the first quarter compared to last year.
UK public sector borrowing dropped to £1.1bn in July, the lowest July borrowing for three years, as stronger tax revenues slowed the increase in public borrowing. The uplift in receipts was largely driven by a better-than-expected economic performance in the first half of the year. Despite this improvement, borrowing for the financial year to date remains £6.7bn higher than the same period last year.