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Good morning.

From the newsroom of the Financial Times, today is Tuesday, October 23rd, and this is your FT news briefing.

Today we'll be looking at an unexpected windfall for the UK budget,

HSPC's step back into U.S. lending,

and what's causing equity investors to be more cautious.

Then, we'll tell you how many mobile apps

are sending your personal data to other

companies and you might not even know it. I'm Eric Krupky and here's the news you

need to start your day.

Chancellor Philip Hammond will present the UK Budget on October 29th, and the FT reports that the government's office for budget responsibility

has some good news for him.

In recent weeks weeks the UK Finance

Minister has worried about funding the National Health Service and

social housing improvements. Together that's all expected to cost a hundred

billion pounds over the next five years.

But now, the FD reports that the OBR underestimated recent personal and corporate tax revenues

in its original forecasts.

The Fiscal Watchdog blamed the Office for National Statistics for

underestimating the size of the UK economy. And now says the revisions will cut the UK budget deficit

by about 13 billion pounds for the 2018 to 2019 fiscal year.

...