Interest payments dropped sharply due to a rapid decline in inflation.
The amount was well below forecasts, and analysts said the figure could give leave “wiggle room” for tax cuts.
The amount was well below forecasts, and analysts said the figure could give leave “wiggle room” for tax cuts.
Interest payments on government debt fell to £4bn, down by £14.1bn from December 2022.
It was helped by the fall in inflation last year. The government’s interest payments are linked to the Retail Prices Index measure of inflation.
Ruth Gregory, deputy chief UK economist at Capital Economics, said the better-than-expected figures for December would give the chancellor “a bit more wiggle room for a big pre-election splash in the spring Budget on 6 March”.
Last week, Chancellor Jeremy Hunt hinted that he wanted to cut taxes.
The amount was well below forecasts, and analysts said the figure could give leave “wiggle room” for tax cuts.
Interest payments dropped sharply due to a rapid decline in inflation.
Interest payments on government debt fell to £4bn, down by £14.1bn from December 2022.
The amount was well below forecasts, and analysts said the figure could give leave “wiggle room” for tax cuts.
The amount was well below forecasts, and analysts said the figure could give leave “wiggle room” for tax cuts.
Interest payments on government debt fell to £4bn, down by £14.1bn from December 2022.
It was helped by the fall in inflation last year. The government’s interest payments are linked to the Retail Prices Index measure of inflation.
Ruth Gregory, deputy chief UK economist at Capital Economics, said the better-than-expected figures for December would give the chancellor “a bit more wiggle room for a big pre-election splash in the spring Budget on 6 March”.
Last week, Chancellor Jeremy Hunt hinted that he wanted to cut taxes.
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