Inflation is the chancellor's friend if he only considers his income.The official figures for the public finances show total tax revenues rose by 13.2% in January from the same month a year ago.Corporation tax was 27.9% higher after companies jacked up their prices.Self-assessed income tax was up 33.3% and PAYE income tax, which is by far the largest slug of tax receipts, jumped 10.6% above January 2022 on the back of a worker shortage that sent private sector wages up from the pre-pandemic average of 2% to near 7%.
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