UK government borrowing hits record thanks to self-assessment tax returns

(Alliance News) – The UK notched up a record government borrowing surplus in January thanks largely to self-assessed tax returns, according to official figures. The Office for National Statistics said there was a public sector net borrowing surplus of GBP15.44 billion last month. It is more than the surplus seen a year ago of GBP14.69 billion, and is the largest since monthly records began in 1993.

The UK government notched up a record borrowing surplus in January thanks largely to self-assessed tax returns, according to official figures. The Office for National Statistics said there was a public sector net borrowing surplus of £15.44bn last month. It is more than the surplus seen a year ago of £14.69bn, and is the largest since monthly records began in 1993. At the time of writing, the FTSE 100 is up 0.1%, the FTSE 250 is up 0.3%, and the AIM All-Share is up 0.2%. In the FTSE 100, Antofagasta (ANTO) leads with a 2% gain, followed by Rio Tinto (RIO) with a 1.5% gain. At the bottom of the blue-chip index is BAE Systems (BAES), down 1.2%, followed by a 1% decline for Legal & General (LGEN). Among FTSE 250 stocks, Poolbeg (POLB) is up 3% after announcing that HOOKIPA has terminated discussions on the proposed combination of the two companies. Cathal Friel, Executive Chairman of Poolbeg, said: “We were surprised and disappointed to hear of HOOKIPA's decision to withdraw from the combination discussions. Throughout this process, we have seen strong interest in the potential of POLB 001 and we continue to be focused on maximising the potential of our in-house programmes and exploring new opportunities to generate value for our shareholders.” Elsewhere, Guardian Metal Resources (GMET) announced trenching results (Table 1) that confirm and extend high-grade gold (Au) mineralisation at the 100%-owned Golconda Summit Project located in the Walker Lane Mineral Belt in northern Nevada, USA. GMET said “The confirmation of high-grade gold within Upper Plate rocks is particularly encouraging as it suggests strong potential for an extensive mineralised system at depth within the more favourable Lower Plate host rocks. Given the sustained strength in the gold price above $2,900.” Finally, Europa Metals (EUZ) said it has decided not to extend exclusivity over the Tynagh project via Viridian Metals Ireland Limited and the Company's shares resumed trading on AIM on 17 February 2025. The Company is very aware that, since the resumption of trading on AIM, the share price has declined considerably, however the Company is not aware of any reason for this decline. To the contrary, the Company believes that there is a major disconnect between the Company's share price and the implied net asset value represented largely through its holding in Denarius Metals Corp.