UK public finances improve less than expected despite corporation tax boost

Britain's public finances showed a smaller-than-expected budget surplus in July despite strong corporation tax receipts, according to the first official budget figures since the country's Brexit vote. Britain ran a budget surplus - excluding state-owned banks - of nearly 1 billion pounds last month, lower than a surplus of almost 1.2 billion pounds in the same month last year. Britain typically reports a surplus in July as many companies pay corporation tax and some individuals settle their tax