Current Deficit Up £0.9bn

The public sector current budget deficit was £10.6bn in March 2013, up £0.9bn on March last year. Public sector net borrowing was down £1.6bn on last March to £15.1bn. Both the current budget deficit and net borrowing are reduced by £6.4bn due to cash transfers from the Bank of England Asset Purchase Facility Fund to Government. The Royal Mail Pension Plan also brought net borrowing down and public sector net investment down by £28bn.

Public sector net investment was £4.6bn compared to £7bn in March 2012. The 4G Spectrum auction receipts of £2.3bn are included in the 2012/13 PSNB ex figures. The 4G auction like the Olympics are recent events that affect public sector finances statistics. The central government net cash requirement for 2012/13 was £109.5bn, £17bn lower than in 2011/12 (£126.5bn). Public sector net debt was £1,185.8bn or 75.4% of GDP.