Adam Afriyie, the MP for Windsor, has welcomed the news that the country’s public finances were in surplus for the month of July. Over July the public sector received £184m more in tax revenue than it spent on public services. This is the first surplus for the month of July in 15 years.
Since 2010 the budget deficit has also dropped from over 10% of GDP to less than 3%. Over the same period the economy has cumulatively grown by 15.2% and unemployment has dropped to 4.4%, its lowest rate since 1975.