Deficit £4.4bn Higher Than Last April

Provisional estimates for public sector finances from the ONS suggest that in April 2012 there was a current budget deficit of £12.4bn, £4.4bn higher than last April, net borrowing of -£16.5bn (a surplus), £25.6bn lower than April 2011, and a net debt of £1006.3bn. Public sector net investment in April was therefore -£28.9bn. These figures exclude financial interventions. Central government's share of borrowing was -£14.2bn, local government's share -£2.4bn, public corporations borrowing was £0.1bn. The public sector finances figures for April include the one-off transfer of £28bn to the Government as part of the transfer of the Royal Mail Pension Plan.