After years of careful government spending, the UK is officially back in the black on day-to-day spending.
The current budget – which includes expenditure such as running hospitals, but not one-off capital costs such as major building projects – ended last year with a £3.8billion surplus, its first since 2001.
We got there in the end – a remarkable national effort. Thank you. https://t.co/8D23AKbuwH
— George Osborne (@George_Osborne) 1 March 2018
The controversial plans were brought forward by Osborne after the recession of 2008, where the then Labour government excellerated spending while receipts dramatically dwindled.
It was the right thing to do https://t.co/d4g2fFma23
— David Cameron (@David_Cameron) 1 March 2018