UK sees record 16.7 bln pound budget surplus in Jan
Seasonal tax receipts boost government revenue
Yeartodate borrowing 3 bln lower than in 202223
Overall public debt shows annual rise as share of GDP
Government keeps door open to tax cuts in March budget

LONDON, Feb 21 Reuters Britain chalked up its highest ever monthly budget surplus in January due to record seasonal tax inflows, official figures showed on Wednesday, although the broader picture remains tough as finance minister Jeremy Hunt prepares his annual budget.

The Office for National Statistics said Britain ran a budget surplus of 16.7 billion pounds 21.1 billion in January, up from 7.5 billion pounds a year earlier although below economists39; 18.7 billion pound forecast in a Reuters poll.

Britain39;s public finances typically run a surplus in January, unlike other months, as annual income tax payments are due that month.

Hunt will present his annual budget on March 6, and wants to cut taxes in order to boost the governing Conservative Party39;s popularity before the national election Prime Minister Rishi Sunak is expected to call later this year.

The Conservatives are heavily trailing the opposition Labour Party in opinion polls, and received a blow from official figures last week which showed the economy had fallen into a shallow recession in the second half of last year.

January39;s public finances figures delivered some muchneeded good news for the chancellor in the leadup to the budget. But we…