Theresa May won a modest reprieve on Friday, with European Union leaders indicating their willingness to move the negotiations forward in the coming months. EU leaders said at a summit in Brussels that they would begin “internal preparations” to move into “phase two” of the Brexit negotiations in December, a step forward that would allow London to discuss its future trade relationship with the bloc. Yet they also made clear that May would have to move between now and the end of the year on settling a financial bill that EU officials have estimated at around 60 billion euros.
September’s deficit stood at 5.902 billion pounds, down almost 11 percent from the same month last year, the Office for National Statistics said on Friday, with the deficit narrowing last month to its lowest level for any September in the past 10 years. Government borrowing is down 7.2 percent from the same period a year ago.
Tax revenues remain healthy, receipts from value-added tax on the sale of goods and services, income tax and the stamp duty property tax were higher than a year ago. However corporation tax revenues were down slightly.