Financial Times FT.com

Boost for Darling as tax takings increase

By Chris Giles, Economics Editor

Published: February 20 2008 10:22 | Last updated: February 20 2008 23:51

Alistair Darling’s hopes of meeting his budget forecasts for this financial year received an unexpected boost on Wednesday when official figures showed that public finances were in a much better state than thought.

A surge of income tax and corporation tax revenues in January alongside a large downward revision to government borrowing figures for the end of last year have transformed the assessment of public sector deficits this financial year.

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