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MNI: UK DATA: Limited Impact of COVID-19 On Mar......>

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MNI (London)
MNI: UK DATA: Limited Impact of COVID-19 On Mar Borrowing 
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- MAR PSNB-X GBP3.05BN VS -GBP0.891BN IN MAR 2019 
- MAR CGNCR GBP21.298BN VS GBP21.950BN MAR 2019 
- MAR PSNCR GBP7.208BN VS GBP9.053BN MAR 2019 
- MAR DEBT/GDP RATIO EX-BOE 71.9% VS 72.3% MAR 2019 
- MAR YTD BORROWING GBP48.7BN VS GBP39.3BN MAR 2019 
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Year-to-date borrowing at the end of the tax year rose to GBP48.7bn in Mar,
which is GBP 1.3bn more than the OBR forecast of GBP47.4bn. However, this
forecast does not include COVID-19 stimulus/safety nets. The impact of COVID-19
is limited in the current release and figures will be revised as more
information comes available, the ONS said Thursday. According to the ONS, taxes
across the board will be reviewed but VAT and corporation tax in particular are
impacted by the virus and are likely to see revisions. Meanwhile, debt-to-GDP
increased to 71.9% in Mar.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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