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.
UK government borrowing slowed in line with financial market expectations in April, but debt interest costs continued to accelerate in April, the latest data from the Office for National Statistics show.
Net borrowing slowed to GBP18.6 billion (GBP18.7 bn forecast) in the month, GBP5.6 billion below the level seen in April 2021, although still a hefty GBP7.9 billion above the pre-pandemic April 2019 numbers. April's data was boosted by a higher tax take, including revenues from the increase in National Insurance payments and other modest hikes, but weighed somewhat by the fuel cost Council Tax subsidy.
The ONS saying payments on outstanding debt instruments stood at GBP 4.4 billion, with GBP3.9 billion due to the Jan-Feb RPI uplift over and above accrued coupon payments. Against debt payments, there was a dividend payment from the BOE APF Fund of GBP3.2 billion.
UK Government debt-to-GDP %
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.