A rise in tax receipts contributed to the lowest government borrowing since 2007, handing the chancellor Philip Hammond a boost before next month´s budgetPound reverses losses on hint of Brexit progress at Brussels summitPolitics live: EU leaders agree to start internal Brexit talks on trade 1.01pm BST Investors across Europe remain in an upbeat mood this mood, with the FTSE 100 still in with a chance of a new closing high (7,556.24 is the number to beat). 12.09pm BST Britain´s manufacturers are encouraged by what they consider to be progress on Brexit talks after Theresa May´s trip to Brussels for the EU leaders summit.But more needs to be done, cautioned Terry Scuoler, chief executive of the manufacturers´ trade body, EEF: The warmer words emerging from the European Council following the approach adopted by the Prime Minister suggest there is a glimmer of light at the end of this tunnel. Business needs to see more than a hint of progress, however, because serious planning for transitional arrangements should be taking place now if companies are to firm up their business plans and pin down investment. 11.55am BST The pound has reversed earlier losses against the dollar after a hint of progress on Brexit talks from a meeting of European leaders in Brussels.Brexit conclusions adopted. Leaders green-light internal EU27 preparations for 2nd phase. #EUCO Related: Merkel hopeful of Brexit deal after May`s pleas - politics live 11.12am BST Laith Khalaf, senior analyst at Hargreaves Lansdown, shares the view that Hammond is unlikely to be handing out early Christmas gifts in next month´s budget.The deficit is heading in the right direction, helped by increasing revenues from income tax, national insurance and VAT, which underlines how reliant government finances are on UK consumers both earning money, and spending it.Despite the improving fiscal outlook, we can´t expect too many giveaways in the forthcoming budget. While the deficit is falling, the government still ow ...
|
