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Bad news may be good news

In Print EditionTHE LATEST set of exchequer returns hold out the prospect that the rot in the Government finances has been stopped. Tax revenues are broadly in line with the Government’s revised projections, some areas of taxation have come in ahead of forecast and others remain worryingly weak, but overall the position is no worse than had been expected.

Pictures

Images of the day

  • Sadaqat, a 10-year-old local resident, is photographed with her donkey while stopping to collect firewood road-side near Buner district from Mardan, about 220 km by road northwest of Islamabad, Pakistan July 3. About half of Buner's 700,000 population fled the fighting but have started trickling back as security improves. Photo: Akhtar Soomro/REUTERS
  • A macaque drinks tap water to cool down in Jiyuan, Henan province, China July 3. Temperatures in 10 major cities of China, including Beijing, are forecast to be slightly hotter than usual from July to September. Photo: China Daily/REUTERS
  • Belarussian army tanks move along during a celebration marking Independence Day in Minsk, Belarus July 3. Photo: Vasily Fedosenko/REUTERS
  • Christie's employee Laura Vere-Hodge examines a Louise XIV coffer, July 3, in London, England. This piece, one of a pair known as the Wrotham Coffers by Andre-Charles Boulle, is estimated at £2,500,000 - £4,000,000 and will be sold as part of Christie's Important European Furniture, Sculpture and Clocks sale which takes place on July 9, Photo: Peter Macdiarmid/Getty Images
  • Marines from 2nd Marine Expeditionary Brigade, RCT 2nd Battalion 8th Marines Echo Co. take cover as a 500 lb bomb explodes on a compound after the Marines took two days of enemy fire from the position, July 3, in Main Poshteh, Afghanistan. Photo: Joe Raedle/Getty Images
  • A spectator watches from the area know as Henman's Hill or Murray's Mound the semi-final match between Andy Murray of Britain and Andy Roddick of the U.S. on screens at the Wimbledon tennis championships in London, England July 3. Photo: Stefan Wermuth/REUTERS
  • A vendor holds onto a Russian Matryoshka doll decorated with images of U.S. President Barack Obama and his Russian counterpart Dmitry Medvedev at a market in Moscow, Russia July 3. Obama leaves for Moscow Sunday to take part in talks with Russian officials. Photo: Denis Sinyakov/REUTERS
  • Great Britain's Andy Murray in action against USA's Andy Roddick during the Wimbledon Championships at the All England Lawn Tennis and Croquet Club, Wimbledon, London, July 3 Photo: Owen Humphreys/PA Wire
  • A horse wearing head protection against flies is led by a groom during the Nation Cup jumping tournament at the World Equestrian Festival CHIO in Aachen, Germany July 3. Photo: Johannes Eisele/REUTERS
  • Performers of Spain's Azar Teatro take part in a street theatre performance Barrocco-Roll during the Malta Arts Festival in Valletta July 3. The three week-long festival runs until July 24, providing a mix of theatre, dance, music and visual arts. Photo: Darrin Zammit Lupi/REUTERS
  • Anti-North Korea protesters burn North Korean flags and mock North Korean missiles at a rally denouncing the North's missile launch, in Seoul, South Korean July 3. North Korea may test mid-range missiles or fire more short-range missiles to step up sabre rattling that has raised regional tension. Photo: Jo Yong-Hak/REUTERS
  • An Iranian cleric prays during Friday prayers in Tehran, Iran July 3. Photo: Morteza Nikoubazl/REUTERS
  • A person windsurfs during the Blue Ribbon Regatta race on Lake Balaton near Balatonfured, 150 km west of Budapest, Hungary July 3. Photo: Laszlo Balogh/REUTERS
  • Sri Lanka's Angelo Mathews fields during a practice session ahead of their first test cricket match against Pakistan in Galle, Sri Lanka July 3. Pakistan and Sri Lanka will face each other in a three test and five one day international match series, starting on July 4. Photo: Vivek Prakash/REUTERS
  • Tear gas canisters fired by Israeli soldiers land near journalists and protesters during a protest against the controversial Israeli barrier in the West Bank village of Bilin near Ramallah, Palestinian Territories June 3. Photo: Fadi Arouri/REUTERS
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Science Today »

Opening minds

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Sport »

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Property »

Asking prices go on falling

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Entertainment »

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