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Self-assessed (SA) Income Tax receipts over the last two months jumped notably, today’s public finances show.
SA income tax payments in July and August were £18.6bn in total, which is £1.9bn more than in the same period last year.
“Borrowing in the financial year so far was lower than over the same period last year. However, it was higher than the official forecast, largely because central government borrowed more than anticipated.
“On the month, borrowing was up by almost a fifth on last August, as spending increased more than government income partly reflecting the impacts of inflation.”
