MNI DATA IMPACT: UK Finances See July Surplus, YTD Borrowing Up>

By Les Commons and Irene Prihoda

     LONDON (MNI) - UK government finances received a modest boost in 

July, with a surplus of stg1.132 billion, although that was lower than 

the near stg3.6 billion surplus seen in July 2018. 

     The following are the key points from public sector finance data 

published Wednesday by the Office for National Statistics.

     - Year-to-date borrowing stood at stg16.0 billion in July, up 60% 

on the stg10.0 billion YTD in July 2018. It was the biggest July YTD 

percentage gain since July 2009/10. July 2018 was the highest July 

surplus seen since 2002. 

     - Self-assessment tax revenues in July stood at stg9.4 billion, up 

from the stg9.1 billion seen in the same month last year.

     - The latest full financial year, FY 18/19, was stg23.6 billion, 

stg18.2 billion less than in 17/18, but still stg0.8 billion above the 

Office for Budget Responsibility's forecast. 

     - Debt as a percentage of GDP excluding the Bank of England stood 

at 74.1% of GDP, down from 74.6% in July 2018 and from 74.8% seen in 

June this year. The fall from June was largely down to a Gilt 

redemption. 

     - CGNCR was stg12.5 billion in the year-to-date, stg12.2 billion 

higher than in the same period last year. Excluding UK Asset Resolution 

Ltd and Network Rail, CGNCR was 12.3 billion vs stg0.7 billion last 

year. 

-London bureau: 44 (0) 203 865 3812; email: ukeditorial@marketnews.com

[TOPICS: M$B$$$,MABDS$]