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!
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.
Re: UK Public finances show a July surplus for the first time since 2002
Quote:
Originally Posted by
Zak33
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.
Re: UK Public finances show a July surplus for the first time since 2002
oh I see... it's revenue collection date. Gotcha
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.
