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Government's audited accounts show surplus

Attributed to recovery in stock market

Central Government's audited accounts for 2020/21 show an overall surplus of £137.3 million -compared with a deficit of £221.7 million the previous year.

The move from the red is attributed to a recovery in the stock market which has resulted in gains on investments of £233.8 million.

It's a similar story in relation to Group accounts - which relate to the non-revenue funded statutory boards and government owned companies - which returned a surplus of £140.7 million.

The bounce back in the stock markets provided welcome relief for government finances which have been under huge pressure from the Coronavirus pandemic.

The Treasury has costed the pandemic - up to the end of March this year - at roughly £246 million.  

The bill has been paid from government's internal reserves which include the net general revenue account, the Contingency Fund and the Economic Recovery Fund. 

You can find the accounts HERE.

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