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Market News Topics
November 21, 2017 09:30 GMT
BULLET: UK Data: YTD Borrowing Lowest Since 2007; Oct Levels.>
UK Data: YTD Borrowing Lowest Since 2007; Oct Levels Above Expectations
-Oct PSNBX Stg8.040bn Vs Stg7.524bn Oct 2016; Higher Debt Payments
-UK October Net Debt Ex-BOE 79.6% of GDP Versus 79.8% in October 2016
-Underlying Apr-Oct Borrowing Stg38.5bn Vs Stg42.6bn Apr-Oct 2016
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PSNBX came in at stg8.0bn in October, exceeding the MNI median of a
stg7.0bn outturn and the stg7.5bn result from last October. That took
YTD borrowing to stg38.5bn, the lowest since 2007. October's rise in
borrowing was driven by higher debt interest payments, which rose by
stg1.2bn, courtesy of an elevated rate of RPI. This was partially offset
by VAT tax receipts, which grew by stg300 million, slightly less than in
previous months. Income tax receipts rose by stg800m, the biggest
increase since Oct 2007. Corporation tax receipts fell for the fourth
month y/y, down 0.3% in October.
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