Public Sector Borrowing Unchanged Over Year

Public sector net borrowing was unchanged over the year from August 2011 to August 2012 at £14.4bn according to a statistical bulletin from the Office for National Statistics (ONS). The current budget deficit in August was £13.2bn an increase of £0.4bn on last year. Net Investment was £1.2bn, a difference of £0.4% on last year. Net debt was £1039.5bn or 66.1% of GDP at the end of August. Differences in net borrowing and net investment figures were affected by the £28bn transfer from the assets of the Royal Mail Pension Plan in April.