Public Expenditure
The question
To ask the Chancellor of the Exchequer, in which financial year the current budget was last in surplus.
Answered by Emma Reynolds
The last financial year for which the current budget was in surplus was 2018-19, when there was a surplus of £0.8 billion. This was the only surplus since 2001-02, when the current budget was in surplus by £6.9 billion.
The OBR has today forecast that the current budget will be in surplus by £6.0 billion in 2027-28, £7.1 billion in 2028-29, and £9.9 billion in 2029-30.
This information is available in the Public Sector Finances publication, published by the Office for National Statistics and the Office for Budget Responsibility’s March Economic and Fiscal Outlook published on 26 March.
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