Free Trial

Late Equity Roundup: Mildly Lower on Week


Remains Above The 50-Day EMA

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
MNI (London)
(MNI) London

Public sector borrowing declined to GBP16.848 billion in December, falling short of the GBP18.5 forecast by City analysts, and down from GBP24.402 billion in year earlier, the Office for National Statistics said Tuesday. An unexpected surge in corporate tax payments kept borrowing in check, with corporates returning GBP5.5 billion to the Treasury, the highest for any month on record, despite the super-deduction in corporation tax announced in the April budget.

Corporate tax was revised higher by GBP1.7 billion in both October and November, according to an ONS official. That reduced November borrowing to GBP14.743 billion from the initially-reported GBP17.384 billion.

Debt interest payments rose to GBP8.1 billion, the second highest on record, reflecting the 1.1 percentage point rise in the RPI between September and October. Over the year to date, borrowing hit to GBP146.8 billion, nearly GBP13 billion below the OBR April-December forecast of GBP159.7 billion. CGNR excluding exceptional items rose to GBP16.346 billion from GBP13.061 billion in November andGBP33.438 billion a year earlier.

Source: ONS

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.