A Government surplus would normally be seen as good news. But despite reaching £15.4bn in January – a record high for the month – it’s actually caused further headaches
for the Chancellor, adding pressure to break her pledges on tax. The Government had been expecting a much higher surplus of £20.5bn, as officially forecast.
It means Rachel Reeves is under increasing pressure to either make public spending cuts to various Government departments or raise taxes further. And if she does, it’s
likely to come in…