Osborne Admits Defeat On Budget Surplus Aim

The Chancellor has said the UK's vote to leave the European Union means he will miss a key target - achieving a budget surplus in time for the next scheduled general election. During a speech in Manchester, George Osborne said the effects of the referendum result meant the public finances would no longer be able to return to a surplus in the 2019/20 financial year as he had hoped. He said: "As the Bank of England said yesterday, the referendum result is expected likely to lead to a signific