UK posts highest Aug deficit in 3 years as tax receipts fall
London
BRITAIN posted the highest August budget deficit since 2012 as the tax take from individuals and companies dropped.
Spending exceeded revenue by £12.1 billion (S$26.5 billion) compared with a deficit of £10.7 billion a year earlier, the Office for National Statistics (ONS) said in London on Tuesday. Economists in a Bloomberg survey had forecast a £9.2 billion shortfall. Government income fell 0.6 per cent and spending climbed 1.6 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Star Entertainment chair Foster steps down, adds to management exodus
Fading bets of early RBA cuts frustrate Albanese reelection plan
France moves to acquire key activities of tech giant Atos
Hamas says no ‘major’ issues, as Gaza truce effort builds
Thai power demand hits record as extreme heat prompts warnings
Philippines denies deal with China over disputed South China Sea shoal