Strong tax receipts and lower debt interest payments are sustaining a sharp fall in the budget deficit relative to last year. Extrapolating performance over the year to date would see the full-year deficit come in £11 billion lower than forecast in March, however the recent strength of cash corporation tax receipts is not yet being reflected in the headline deficit measure.
October 19, 2018 – 256 KB
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Strong receipts growth keeps deficit falling
October 19th, 2018 | Monthly public finances release, What's new
Strong tax receipts and lower debt interest payments are sustaining a sharp fall in the budget deficit relative to last year. Extrapolating performance over the year to date would see the full-year deficit come in £11 billion lower than forecast in March, however the recent strength of cash corporation tax receipts is not yet being reflected in the headline deficit measure.
Commentary on the public sector finances – September 2018