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BULLET: UK Data: YTD Borrowing Lowest Since 2007; Net Debt...>

UK Data: YTD Borrowing Lowest Since 2007; Net Debt Lowest Since Aug 2012   
-Jan PSNBX -Stg10.008bn V -Stg11.625bn Jan 17; SA Income Tax, CGT Strong  
-UK January Debt Ex-BOE 75.9% of GDP Versus 78.9% in January 2017 
-Underlying Apr-Dec Borrowing Stg37.7bn Vs Stg44.8bn Apr-Jan 2017
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YTD public sector net borrowing fell by stg7.2bn to stg37.7bn in the 
current fiscal year (Apr-Jan), compared to the same period a year ago 
and the best result in a decade, leaving room for the balance to come 
in under the stg49.9 OBR's 2017/18 total borrowing forecast. Borrowing 
in January delivered a surplus of stg10.008bn, the second best January 
result on record, assisted by combined a joint SA income tax and CGT 
receipt total of stg18.4bn, just stg0.9bn less than a year ago when 
figures were boosted by dividend and tax forestalling. Public sector net 
debt excluding the BOE stood at 75.9% of GDP in Jan 18, down from 78.9% 
in Jan 17, the lowest level since August 2012.         

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