Markets across Asia fell sharply overnight, with key indices shedding over 3%, as worries about the health of the Chinese economy and its ability to re-balance continued to hurt equities.
The FTSE 100 got off to a positive start on Monday, with shares shrugging off weak data from both China and Japan to move higher.
George Osborne is potentially facing a £20bn black hole in the public purse when he delivers the next Budget, according to a recreation of government models put together by the Financial Times.