BULLET: UK Data: April Borrowing Falls; 2017/18 Revised......>

UK Data: April Borrowing Falls; 2017/18 Revised Lower    

-Apr PSNBX Stg7.840bn Vs Stg8.953bn Apr 17  

-UK April Debt Ex-BOE 75.8% of GDP Versus 78.6% in April 2017 

-UK 2017/18 Borrowing Revised Down to Stg40.5bn Vs Stg46.2bn 2016/17

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Borrowing in April 2018 undershot its year-ago level, extending a 

trend seen for much of last year, coming in at stg7.8bn. Borrowing was 

stg1.1bn lower than in April 2017, the lowest for April since 2008. 

Implemented for the first month, the sugar tax added a modest stg13 

million to government receipts in April. Meanwhile, full year borrowing 

in 2017/18, still in its estimation phase, was revised down stg2.1bn to 

stg40.5bn, the lowest fiscal year borrowing since 

2006/07. The revision was driven by higher receipts (corp tax up 

stg0.6bn and VAT up stg0.1bn) and lower current expenditure (down 

stg1.1bn) and capital expenditure (down stg0.9bn).