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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.
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Free AccessBULLET: UK Data: May Borrowing Down Vs May 2017; 2017/18.....>
UK Data: May Borrowing Down Vs May 2017; 2017/18 Borrowing Revised Lower
-May PSNBX Stg4.966bn Vs Stg6.966bn May 17
-UK May Debt Ex-BOE 75.8% of GDP Versus 78.9% in May 2017
-UK 2017/18 Borrowing Revised Down to Stg39.451bn Vs Stg45.677bn 2016/17
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May borrowing undershot its year-ago level, extending a trend
highlighted by MNI which has run since the start of the 2017/18 fiscal
year. That left cumulative borrowing at stg11.8bn after the first two
months of the new fiscal year, the lowest YTD outturn in a decade. Also
predicted by MNI, sizeable growth in VAT and and income tax receipts
both materialised in May. VAT receipts rose 5.4% y/y, possibly linked to
the bumper retail sales showing, while income tax receipts rose by 7.5%
to stg12.5bn - a record for the month of May. Fiscal year borrowing over
2017/18 was revised down further in May, to stg39.5b from the stg40.5b
reported last month.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
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.