BULLET: UK Data:PSNB-X Surplus In First July Surplus since...>

UK Data:PSNB-X Surplus In First July Surplus since 2002 

-Jul PSNBX -Stg0.184bn Vs -Stg0.308bn Jul 2016

-UK Jul Net Debt 80.3% of GDP Versus 80.7% in July 2016

-Underlying Apr-Jul Borrowing Stg22.8bn Vs Stg20.9bn Apr-Jul 2016

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Public sector net borrowing was in surplus by stg0.2bn in July, the 

first July surplus since the stg1.2bn surplus recorded in 2002. Despite 

this, borrowing in the first three months of the financial year came in 

stg1.9bn higher at stg22.8bn, versus the same period last year. As is 

typical in July, there was a rise in self assessment tax receipts, up 

stg0.8bn on last July. Corporation tax was down stg0.1bn on last July 

but note that the ONS now accrues these receipts back over previous 

months, smoothing out any spikes. Debt interest payments were up 

stg0.7bn to stg4.9bn versus last July while borrowing in 2016/17 was 

revised down to stg45.2bn from the stg46.2bn recorded in June.