Public Sector Borrowing Down 0.7%

Public sector net borrowing for September decreased by 0.7% to 12.8bn. The public sector current budget deficit was £11.2bn and public sector net investment was £1.6bn. The public sector net debt increased by £92.9bn to £1065.4bn or 67.9% of GDP. Public sector borrowing can be broken down further. General government accounts for £13.4bn of borrowing with central government borrowing increasing 0.3% to £13.8bn in September 2012 and local government borrowing falling £0.7bn to -£0.2bn. Non-financial public corporations borrowing decreased by £0.3bn to -£0.6bn. The central government net cash requirement (CGNCR) in September 2012 was £22.1bn, £1bn or 4.2% lower than September 2011. The sale of the assets of the transferred Royal Mail Pension Plan accounted for a large part of the drop on CGNCR.