UK Borrowing in FYE Mar 2021 Revised Lower

APR PSNB-X GBP 31,696BN VS GBP 47,315BN IN APR 2020

APR CGNCR GBP 30,512BN VS GBP 63,857BN APR 2020

APR PSNCR GBP 33,564BN VS GBP 74,227BN APR 2020

APR DEBT/GDP RATIO EX-BOE 88.3% VS 78.5% APR 2020

APR YTD BORROWING GBP 31.7BN VS GBP 47.3BN APR 2020

• Public sector net borrowing was 31.7% of GDP, the second highest Apr borrowing on record and GBP 15.6bn less than a year ago.
• UK year-to-date borrowing for the financial year 2020/21 was revised down by GBP2.8bn to GBP 300.3bn, but remains the highest borrowing on record. However, borrowing was GBP 27.1bn less than the OBR expected (GBP 327.4bn).
• Central gov. tax receipts registered at GBP 58.0bn in Apr, which is 7.0% more than in Apr 2020, while gov bodies spent GBP 95.9bn, 11.9% less than a year ago.
• Gov tax receipts and national insurance receipts were 4.7% smaller in FYE Mar 2021 than in the previous financial year and the gov support during the pandemic contributed to a rise of 27.6% in gov day-to-day spending.
• CGNCR was GBP 30.5bn in Apr, while in the FYE Mar 2021 it was GBP 334.5bn, the highest since the series began in 1984.