UK Borrowing 2nd Highest June on Record

JUN PSNB-X GBP 22,754BN VS GBP 28,224BN IN JUN 2020

JUN CGNCR GBP 19,168BN VS GBP 25,229BN JUN 2020

JUN PSNCR GBP 11,254BN VS GBP 16,335BN JUN 2020

JUN DEBT/GDP RATIO EX-BOE 89.5% VS 83.4% JUN 2020

JUN YTD BORROWING GBP 69.5BN VS GBP 119.3BN JUN 2020

• Public sector net borrowing was GBP 22.8bn in Jun, the second highest Jun borrowing on record and GBP 5.5bn less than a year ago.
• YTD borrowing registered at GBP 69.5bn which is GBP 49.8bn less than in a year ago.
• UK year-to-date borrowing for the financial year 2020/21 was revised down by GBP1.5bn to GBP 297.7bn, but remains the highest borrowing on record.
• Central gov. receipts rose by GBP 9.5bn compared to the previous year to GBP 62.2bn in Jun, which includes GBP 45.5bn of tax receipts.
• Central gov. bodies spent GBP 2.5bn more in Jun 2021 than in Jun 2020 at GBP 84.1bn
• CGNCR was GBP 19.2bn in Jun, which is GBP 28.0bn less than in Jun 2020.
• Interest payments on central gov. debt reached a record high of GBP 8.7bn, which is GBP 6.0bn more than a year ago. This was mainly driven by movements in the RPI to which index linked gilts are pegged, the ONS noted.
• The first payments of GBP 0.8bn to the EU was made under the withdrawal agreement in Jun and the ONS expects similar payments in the coming months.