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Government records £9.4bn surplus in January

Government finances recorded a £9.4bn in surplus in January, £0.3bn higher than the same month last year.

Boosted by self-assessment tax receipts, January is typically a strong month for government finances.

For the financial year-to-date, public sector net borrowing stands at £49.3bn, down £13.6bn from the same period in the previous year.

The year-to-date borrowing figure is the lowest since the comparable period in 2008.

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