The deficit in public finances totalled £2.6bn, lower than the £3.6bn projected by some analysts last month.
April figures showed a £3bn surplus – public finances have fluctuated over the last few months, but to date, the financial year shows a £300m surplus.
The lower deficit was attributed to higher tax receipts, which one economist said were indicative that people were still in jobs and growth had not slowed down significantly.
Does Darwin's theory apply to taxation? Colin ponders...
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