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Receipts 2021 march8/2/2023 Other taxes on income and wealth include Capital Gains Tax receipts and balancing residual items that are often negative.ĭownload this table Table 2: Central government current receipts.Other Taxes on Income & wealth Footnote 2 Table 2: Central government current receiptsĬentral government receipts compared with the same month a year earlier, UK, January 2023Ĭorporation Tax: Of which Energy Profits Levy The increase in central government’s expenditure in January 2023 compared with the previous year was mainly because of substantial spending on energy support schemes and large one-off payments relating to historic customs duties owed to the EU. Total expenditure, which includes depreciation and net investment, grew considerably to £103.6 billion in January 2023, which was £20.1 billion (24.0%) more than a year earlier. Over the same period, current expenditure rose by £12.0 billion (16.4%). ![]() Initial estimates show that central government’s current receipts in January 2023 were £107.8 billion, which was an increase of £12.6 billion (13.6%) compared with January 2022. csvĬentral government forms the largest part of the public sector, and the relationship between its receipts and expenditure is the main determinant of public sector borrowing. Figures may not sum because of rounding.ĭownload this table Table 1: Public sector net borrowing.Public sector ex is net borrowing excluding public sector banks.Source: Office for National Statistics – Public sector finances Sub-total: Public Sector ex BoE and Banks Public sector net borrowing by sub-sector compared with the same month a year earlier, UK, January 2023 ![]() Public sector net debt excluding the Bank of England was £2,198.7 billion, or around 87.2% of GDP, which was £293.4 billion less than the wider measure.Ĭentral government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was in surplus by £20.9 billion in January 2023, bringing the total net cash requirement for the financial year-to-January 2023 to £79.4 billion. Public sector net debt (PSND ex) at the end of January 2023 was £2,492.1 billion, or around 98.9% of gross domestic product (GDP), with the debt-to-GDP ratio at levels last seen in the early 1960s. In the financial year-to-January 2023, the public sector borrowed £116.9 billion, which was £7.0 billion more than in the same period last year but £30.6 billion less than forecast by the OBR (after temporary differences because of student loan estimates are taken into account – see Section 10: Measuring the data). ![]() January’s high annual self-assessed tax receipts were partly offset by substantial spending on energy support schemes and large one-off payments relating to historic customs duties owed to the EU.Ĭentral government debt interest payable was £6.7 billion in January 2023, which was the highest January figure since monthly records began in April 1997 the recent increases are largely because of the effect of Retail Prices Index (RPI) changes on index-linked gilts. Self-assessed income tax receipts were £21.9 billion in January 2023, which was the highest January figure since monthly records began in April 1999 and £5.5 billion or one-third higher than in January 2022. Public sector net borrowing (PSNB ex) in January 2023 was in surplus by £5.4 billion, which was a £7.1 billion smaller surplus than in January 2022 but a £5.0 billion larger surplus than forecast by the Office for Budget Responsibility (OBR).
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