UK in surprise boost after record tax payments in January
The figures come ahead of next month’s Budget where the government will detail its tax and spending plans. …
This is because many UK government bonds, or “gilts”, which the government sells to international investors to raise the money it needs, are “index linked”, meaning the government’s repayments rise in line with the Retail Prices Index (RPI) measure of inflation, which is currently at double-digit levels.
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