On February 21st local time, the latest data released showed that the UK public sector recorded a fiscal surplus of £15.4 billion in January 2025, marking the highest January surplus since monthly records began in 1993.
The main reason for the surplus growth is that tax revenues in January are typically higher than in other months. In particular, the concentrated receipt of self - assessed taxes led to the month's income exceeding expenditure and reduced the government's borrowing needs.