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Free AccessUK YTD Borrowing Down Almost 30% to 16-Year.>
UK DATA: UK YTD Borrowing Down Almost 30% to 16-Year Low
-UK Nov PSNBX Stg7.209bn Vs Stg8.105bn Nov 2017
-UK Nov Debt Ex-BOE 75.1% of GDP Vs 76.1% in Nov 2017
-UK January Record Surplus Sends Borrowing Below OBR's Target
-UK YTD Borrowing Stg21.2bn Vs Stg39.7bn 2017/18
-UK Jan borrowing -Stg14.895bn vs -Stg9.307bn in 2018
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The highest surplus since records began in January meant
Year-to-date (YTD) net borrowing came in a stg21.2 bn, signifcantly
below the OBR's target of stg25.5bn. YTD borrowing declined by a
staggering 46.6%. Driving this was record tax receipts in
self-assessment taxes and capital gains taxes amounting to stg1.9bn and
stg1.2bn respectively. Over the past two years the January and February
surplus has averaged stg8.4bn each month. Thus, January's PSNB-EX
surplus of stg14.895 is a welcomed sign for Chancellor Hammond.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.