LONDON (MNI) – The UK Treasury welcomed the January public finances
data, which showed public sector net borrowing excluding financial
interventions (PSNB-X) posting its largest surplus since July 2008 and
PSNB its largest surplus since January 2009.

The Treasury, in a statement, also said it would carry on with
deficit reduction.

“It’s welcome that this January saw the first surplus for the
public finances in 2 years, but it will take more than one month in
surplus to deal with borrowing of almost stg150 billion for this
financial year,” the statement said.

“The Government is determined to stay the course to deal with this
unsustainable borrowing, and keep Britain out of the financial danger
zone,” it added.

January has typically been a surplus month, due to large tax
receipts, but the PSNB-X reflected a deficit in January 2010.

–London newsroom: 0044 20 7862 7491; email:

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