uk pUBLIC SECTOR BORROWING REACHES £13 BILLION

inspector_monkfish

09:30 21Jul09 UK JUN PSNB +GBP13.0B VS +GBP7.5B YEAR AGO
09:30 21Jul09 UK JUN PSNB WAS EXPECTED AT +GBP16.0B
09:30 21Jul09 UK JUN PSNCR +GBP19.0B VS +GBP11.4B YEAR AGO
09:30 21Jul09 UK PUBLIC SECTOR DEBT / GDP 56.6%, HIGHEST ON RECORD
09:30 21Jul09 UK PSNB, PSNCR HIGHEST JUNE FIGURES ON RECORD
09:30 21Jul09 UK JUN GOVT TAX REV YY DECLINE LOWEST SINCE OCT 2008
09:36 21Jul09 UK June PSNB +GBP13.0B, Less Than Forecast


LONDON--The U.K. public sector borrowed a net GBP13.0 billion in June, the highest borrowing on record for that month as the recession continued to have an impact on public finances, the Office for National Statistics reported Tuesday.

However, June's borrowing was less than expected, as economists had forecast a figure of GBP16.0 billion, with the annual decline in central government tax revenue the lowest since October 2008. June's GBP13.0 billion in borrowing compares with a PSNB of GBP7.5 billion a year earlier.

In the first quarter of the financial year, which started in April, the
public sector borrowed a net GBP41.2 billion, the highest quarterly borrowing since records began in 1946. That compares with borrowing of GBP19.6 billion in the year earlier period. The U.K. government is targeting a full-year PSNB of GBP175.0 billion.

In June, central government current tax revenue fell by 5.7% on the year. That compares with annual revenue declines of 11% in April and May and 12% in March.

Central government current expenditure increased 2.8% from a year earlier. The public sector net cash requirement was GBP19.0 billion in June, compared with GBP11.4 billion in June 2008.

Public sector net debt, including the government's financial sector
interventions, stood at a record 56.6% of gross domestic product, up from 44.4% a year earlier.


ONS Web site: www.statistics.gov.uk

Generali

For a month! That's almost £450 per household in the UK that the Government has borrowed in the last month.

And isn't June a 'good month' when they get the 1/4ly VAT returns in? Not sure but I think so.

kennyboy66_2

Generali wrote: »

And isn't June a 'good month' when they get the 1/4ly VAT returns in? Not sure but I think so.

No its not.

Generali

kennyboy66 wrote: »

No its not.

My apologies, most VAT is due in Jan, April, July and October so you can expect a fall in Govt borrowing next month.

kennyboy66_2

Generali wrote: »

My apologies, most VAT is due in Jan, April, July and October so you can expect a fall in Govt borrowing next month.

Those are the return dates P4 09 ends on 30th April 2009.

VAT payment is due by 31st May 2009 for that quarter.

Conrad

15 x the net worth of Sir Paul Mcartney doesn't seem anything to lose sleep over.

Thrugelmir

Government debt now stands at £799 billion.

Anyone care to calculate the interest we will have to pay on this debt?

inspector_monkfish

Conrad wrote: »

15 x the net worth of Sir Paul Mcartney doesn't seem anything to lose sleep over.

only if you ARE Macca himself !!

inspector_monkfish

Thrugelmir wrote: »

Government debt now stands at £799 billion.

Anyone care to calculate the interest we will have to pay on this debt?

i think they got 0% on Credit Card finance over 9mths from Egg

Thrugelmir

inspector_monkfish wrote: »

i think they got 0% on Credit Card finance over 9mths from Egg

Isn't there a fee for drawing cash?

inspector_monkfish

Thrugelmir wrote: »

Isn't there a fee for drawing cash?

they know a man in accounts called Merv, he lets them off