Free Trial

BULLET: UK DATA: July borrowing YTD Stg 16.0 billion vs Stg..>

 UK DATA: July borrowing YTD Stg 16.0 billion vs Stg 10.0 bn July '18
-UK July surplus Stg1.32 bn from Stg3.56bn surplus a year earlier
-UK July debt-to-GDP ratio 74.1% vs 74.6% July 2018
-UK July YTD borrowing biggest July percentage gain since 09/10
Gov't borrowing in July was stg 16 billion YTD, sharply higher than the 
stg 10 billion seen in July 2018 and the biggest July YTD percentage 
gain since the near 102% jump seen in July 09/10. Debt as a percentage 
of GDP fell to 74.1% in July from 74.6% a year earlier. Over the first 
four months of the financial year, borrowing is running 60% above its 
level of 2019, raising questions about the government's ability to meet 
the Stg29.3bn target set by the Office of Budget responsibility, which 
sits 25% above borrowing in the 2018/19 fiscal year. The OBR has warned 
of an even more dramatic borrowing surge should the UK leave the EU 
without an exit deal in October. Borrowing data will be skewed from Sept 
with methodology change to take in student loans.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });