4 Things You Need To Know (21/9/17)
Welcome to our daily update, where we summarise the key talking points from the last 24 hours.
1. Theresa May’s Brexit Speech
Theresa May will deliver a major Brexit speech in Florence tomorrow, with the BBC reporting that the Prime Minister will suggest a two year transitional deal with the EU. As part of this, she will offer the EU the sum of Twenty billion Euros over the two years. The UK would expect access to the single market and customs union during this period.
2. Government borrowing lowest for ten years
Government borrowing has fallen to its lowest level since August 2007, mainly helped by the rise in VAT receipts.
The Office for National Statistics reveals that the deficit has narrowed to £5.7 billion in August, down from £7 billion the previous year.
3. Gig economy
Deliveroo has revealed that it made a worldwide loss of £129 million in 2016. That’s up from £30 million in 2015.
The firm is identified as one of the symbols of the growing gig economy, where people aren’t employed directly, but instead earn based on a delivery. Sales were up from £18.1 million the year before, hitting £128.56 million in 2016. However, the costs amounted to £127.47 million.
4. Sixth Terror Arrest
A sixth person has been arrested in connection with last week’s London tube terrorist explosion. The seventeen year old male was arrested in South London.