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

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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.