Reeves Reaps £22 Billion Windfall as Britain’s Tax Take Surges

Chancellor of the Exchequer Rachel Reeves has been given a £22 billion ($30 billion) windfall ahead of her spring update this week, an unexpected boost as she seeks to show her efforts to stabilize the public finances are working.

Cash tax receipts have come in far stronger than the budget watchdog had forecast with billions extra generated from self-assessed income tax and the UK levy on sales, according to Bloomberg analysis of official data. Much lower debt-interest spending is also helping to drive the improvement.

The outperformance raises the prospect of a sharp reduction in bond sales this year, easing ...