Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The public sector finances moved back into the black in January, with the Treasury recording a surplus of GBP2.886 billion, the first surplus since January 2020. Self-assessment tax receipts jumped to GBP18.4 billion, the highest on record. That’s up GBP2.4 billion from the same month of 2021 and up GBP3.1 billion from the pre-pandemic haul in January 2021.
Value-added tax receipts also regained pre-pandemic levels, rising to GBP13.1 billion, some GBP600 million above the level of January 2020. Despite the strength in tax receipt, the surplus fell short of the OBR January forecast of GBP3.5 billion, the first time this financial year that borrowing has underperformed the OBT target.
CGNR excluding exceptional items hit -GBP23.236 billion, compared to -GBP10.763 billion a year earlier and -GBP20.467 billion in January 2020. Borrowing for December was revised downward to GBP15.338 billion from the initially-reported GBP16.848 billion.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.