More NewsBrown boosted by public sector income figures

Brown boosted by public sector income figures

Cash surplus in public coffers ahead of pre-Budget report

Chancellor
Gordon
Brown
has been given a timely boost ahead of the
pre-Budget
report
after UK public finances improved in October.

Boosted by the sale of government-owned
BNFL’s Westinghouse nuclear
power subsidiary for £2bn, the public sector reported a net cash repayment of
£8.4bn.

This was substantially higher than the £5bn forecast and double the level in
the same month a year ago.

It was the highest monthly surplus in this figure in October for seven years.

Brown will present the pre-Budget report to Parliament on 6 December.

Further reading:

Government announces PBR date

Grant Thornton: Don’t expect tax cuts in pre-Budget

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