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Hammond Deficit Goal in Sight

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Chancellor Philip Hammond appears to be on track to meet his first budget deficit target after a strong tax payments in January, reflecting the economy’s resilient response to last year’s Brexit vote.

Official data showed Britain reported its biggest surplus on record in the public finances for January which is typically when a lot of tax revenues flow into the public coffers.

The Office for National Statistics reported a surplus in the public finances of 9.4 billion pounds last month.

Reuters

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Former Craig

Former Craig

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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