Data from the Office for National Statistics shows a surplus on the public sector net cash requirement of £6.4bn in July, a huge swing from Junes shortfall of £10.1bn.
The accruals-based measurement of public sector net borrowing also showed an underlying surplus of £1.5bn. Both figures were much better than city analysts had predicted.
The surplus however is not expected to help chancellor Gordon Brown remain below his projected deficit of £27bn for this year. Indeed figures show that the deficit for the first four months of the year is already £12.6bn, nearly half the forecasted figure.
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
Charles Tilley's departure from CIMA leaves the accounting world quieter, but his institute with an exciting foundation