GBP
UK government borrowing fell to £9.4bn in June, down £0.8bn from a year
earlier, as income and corporation tax receipts rose to record
levels.  Income tax receipts rose to £11.5bn, while corporation tax
brought in £1.7bn, both record monthly highs.
It was lowest borrowing figure for June since 2008, However, analysts had been
expecting it to drop further to £8.5bn.
In the financial year so far, borrowing has fallen by £6.1bn to

GBP
UK government borrowing fell to £9.4bn in June, down £0.8bn from a year
earlier, as income and corporation tax receipts rose to record
levels.  Income tax receipts rose to £11.5bn, while corporation tax
brought in £1.7bn, both record monthly highs.
It was lowest borrowing figure for June since 2008, However, analysts had been
expecting it to drop further to £8.5bn.
In the financial year so far, borrowing has fallen by £6.1bn to
£25.1bn. Public sector net debt at the end of June 2015 was £1.513
trillion, or 81.5% of annual UK economic output, up from 80.8% in May.

The government is aiming to eliminate the budget deficit by 2019 and to run a
£10bn surplus in 2020 and in subsequent years.
Chancellor George Osborne announced £37bn of spending cuts during this parliament
in the summer Budget. In November, the government’s spending review will
set out £20bn worth of departmental budget cuts over the next five
years. Mr Osborne has already unveiled £12bn of welfare savings plus £5bn
of tax avoidance measures – which together with the £20bn of departmental
spending cuts make up the £37bn figure earmarked to get government finances
back in the black.

EUR
The International Monetary Fund (IMF) has confirmed that Greece has cleared
overdue debt repayments of €2.05bn (£1.4bn) and is no longer in
arrears. The repayments, and another for €4.2bn to the European Central
Bank (ECB) due on Monday, came after the EU made Greece a short-term loan of
€7bn.

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09:30 – GBP: bank of England MPC official bank
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