Economic week ahead

How much money will the Chancellor have to play with as he plans his next Budget?

So far this financial year things have been looking good as the Budget deficit has fallen by more than £5bn compared with the same month of 2017.

Tomorrow Philip Hammond will find out if this trend has continued as July’s public finances numbers are published by the Office for National Statistics.

Economists expect a surplus of £2.2bn for the month, representing an improvement on the £1.9bn surplus in July 2017.

This is usually a strong month for tax receipts – last year’s numbers were boosted by large selfassessment tax payments.

At the end of the week the annual Jackson Hole Symposium begins in Wyoming.

Jerome Powell, the Federal Reserve chairman, is among those speaking at the event. Markets will be alert for more hints on future interest rate hikes, as well as any warnings over the troubles in Turkey and other emerging markets.