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Thread: UK Public finances show a July surplus for the first time since 2002

  1. 22-08-2017, 10:07 AM #1
    Zak33
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    UK Public finances show a July surplus for the first time since 2002

    https://uk.reuters.com/article/uk-br...-idUKKCN1B20RP

    Can someone explain to me please why July is news worthy for a surplus?

    I'm confused!

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  2. 22-08-2017, 11:24 AM #2
    Millennium
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    Re: UK Public finances show a July surplus for the first time since 2002

    This is excellent news. Hard job getting the economy back in the black but looks like it's finally happening (as I understand it). Once this situation is sorted and we make a dent in the debt we can start spending a bit more freely. Hopefully this will give the pound a boost too - been a sad story since Brexit and I don't want to see pound euro parity any time soon, which I heard might happen even this year.

    We shall see.
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  3. 22-08-2017, 11:40 AM #3
    Corky34
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    Re: UK Public finances show a July surplus for the first time since 2002

    Quote Originally Posted by Zak33 View Post
    Can someone explain to me please why July is news worthy for a surplus?
    It's one of the two main tax revenue collection periods, or rather the first time the numbers are published from when people submitted their tax returns in April.
    Last edited by Corky34; 22-08-2017 at 11:46 AM.
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  5. 22-08-2017, 12:55 PM #4
    Zak33
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    Re: UK Public finances show a July surplus for the first time since 2002

    oh I see... it's revenue collection date. Gotcha

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  6. 22-08-2017, 01:13 PM #5
    TheAnimus
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    Re: UK Public finances show a July surplus for the first time since 2002

    Amongst other things it shows that people are actually paying their taxes, it can be seen as a barometer of health of small companies and sole traders etc.
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