Government Borrowing Down £7.8bn

Public sector net borrowing (PSNB) including the net effects of financial interventions fell by £7.8bn to £107.4bn for the financial year 2013-14 compares with 2012-13 when it was £115.1bn. If financial interventions are excluded, PSNB was £95.2bn, £14.5bn up on 2012-13 when it was £80.7bn.

In April PSNB was £7.4bn (excl. temporary effects), £1.7bn up on April 2013. Public sector net debt (PSND) was £1270.8bn or 75.6% of GDP.

Public Borrowing Down £4.4bn

Public borrowing for the year to date excluding the temporary effects of financial intervention and the effects of the transfers of the Royal Mail Pension Plan and the Asset Purchase Facility was £99.3bn, £4.4bn down on the same period in 2012-13

Public sector net borrowing (PSNB) in February excluding the temporary effects of financial interventions was £9.3bn including a £2.3bn transfer from the sale of 4G licenses but excluding the £2.7bn asset purchase facility transfer for the month. General government borrowing was £9.7bn of which central government borrowing was £10.4bn and local government borrowing was -£0.8bn, non-financial public corporations borrowing was -£0.3bn. The current budget was -£66.2bn for April to February 2014 and -£6.5bn for February.

Public sector net debt (PSND) for February 2014 excluding the temporary effects of financial intervention was £1246.8bn equal to 74.7% of GDP, up from £1,160.7bn and 72.5% respectively in February 2013. PSND for the purposes of fiscal policy is the total gross financial liabilities less liquid financial assets.

Central government receipts totalled £45.9bn, £0.5bn lower than last February. Central government expenditure in February was £53.8bn, £3.9bn up on last February. Net investment in February was £1.9bn, £2.3bn up on February last year when it was -£0.4bn. Central government net cash requirement for the year to date was £53.2bn down from £70.2bn for the same period in 2012-13.

Net Borrowing Lower Than In 2012

In 2012 public sector net borrowing (PSNB) was £33.5bn lower than in 2011/12 at £85bn, excluding temporary effects of financial interventions.

PSNB in May 2013 at £8.8bn was £6.9bn lower than in May 2012 when it was £15.6bn. The current budget was -£11.3bn and public sector net investment was £1.4bn. If the figures exclude the effects of the Bank of England Asset Purchase Facility and the Royal Mail Pension Plan PSNB equals £12.7bn and net investment £1.4bn.

Public sector net debt excluding the temporary effects of financial interventions (PSND ex) was £1,189.2bn or 75.2% of GDP.

Borrowing Continues To Increase

Net borrowing, excluding the temporary effects of financial interventions, was £15.9bn in August 2011, an increase of £1.9bn on last year according to data from the ONS. Public sector net investment (PSNI) was £2.1bn and public sector current budget (PSCB) deficit was £13.8bn.

The current budget deficit, excluding the temporary effects of financial interventions, was £13.8bn in August 2011, an increase of £2.2bn on 2010. Over the last three months the budget deficit has decreased from £44.5bn to £43.5bn.

Net debt (PSND), excluding the temporary effects of financial interventions, was £944.5bn, equivalent to 61.4% of GDP from £810.5bn or 55.3% GDP.

The public sector net borrowing figure of £15.9bn can also be arrived at by a calculation using data relating to central and local government borrowing. Central goverment borrowing was £14.7bn, local government borrowing was £1.5bn and public corporations borrowing was a negative figure of £0.3bn. Central government net cash requirement increased by £4.9bn from £5.8bn to £10.7bn.

Public Sector Finances In October

The public sector had a current budget deficit of £7.1bn and net borrowing of £10.3bn in October 2010 excluding the effects of financial interventions and at the end of October a net debt of £845.8bn or 57.1% of GDP.

Budget Deficit Increase £1.5bn

The public sector current budget deficit in September 2010 was £13.2bn, an increase of £1.5bn on September 2009 and public sector net investment was £3bn. Public sector borrowing was £0.7bn up on 2009 at £16.2bn. The public sector net debt was £842.9bn up from £687.5bn at the end of September 2010. These figures exclude the effects of the financial interventions.

Total current receipts for September 2010 were £38bn and total current expenditure £50.7bn giving a current budget of -£13.3bn when taking depreciation and investment into account.

Public Sector Budget Deficit Down In August

The public sector current budget deficit was £13.3bn in August 2010 compared to £14.1bn last August and £12.7bn including financial interventions. Net borrowing was £15.9bn and £15.3bn including financial interventions. Net debt was £823.3bn or 56.3% of GDP (£934.9bn).

Current receipts in August totalled £37.1bn compared to £34.9bn in August 2009 and current expenditure was £49.8bn as compared to £44.9bn last August. The public sector net cash requirement was £5.8bn compared to the £10.3bn net cash requirement of August 2009.

Public Sector Finances July 2010

The public sector finances bulletin from the ONS estimates show a current budget deficit of £0.5bn in July 2010 along with net borrowing, excluding financial interventions, of £3.8bn for the same period. Net debt was £816.2bn which is equivalent to 56.1% of GDP.

General government borrowing was £3.8bn which was made up of £3.4bn borrowed by central government and £0.4bn by local government. Public corporations showed a surpus of £0.6bn on their borrowing so public sector borrowing was £3.2bn in July.

Current Deficit Down By £1.6bn

The latest public sector finance statistics from the ONS show that the current budget deficit in May 2010 was £14.1bn, £1.6bn down on £15.7bn in 2009. Reconciled with net investment of £1.9bn net borrowing (PSNB) was £16bn, £1.4bn down on £17.4bn in 2009. PSNB excluding financial interventions was £28.7bn in Q4 2009. Public sector net debt (PSND) was £903bn which is equivalent to 62.2% of GDP. PSND excluding financial interventions at the end of March was £771.5bn from the £616.9bn a year earlier. Public sector net cash requirement £12bn, £7.2bn down on £19.1bn.

A sectoral breakdown of the figures shows that central government accounted for £20.2bn and local government -£3.4bn giving a general government figure of £16.8bn. Public corporations accounted for -£0.8 giving the PSNB figure of £16bn.

Increase In Deficit In April

The public sector finances provisional estimates for April from the ONS say that there was a current budget deficit of £9.3bn in April 2010 and net borrowing (PSNB) of £10bn. In April 2009 the budget deficit was £7.6bn and net borrowing was £8.8bn. At the end of April net debt (PSND) was £893.4bn equivalent to 62.1% of GDP compared to £755.4bn and 53.9% last year. If financial interventions are excluded PSNB was £11.12bn and PSND was £772bn or 53.8%.

Government Deficit Up Nearly £3bn

Public sector finance statistics show that the current deficit was £2.8bn higher than March 2009 at £14.8bn. Public sector net borrowing (PSNB) was £3.4bn higher at £23.5bn. Central goverment borrowed £21.6bn, local government £2.1bn and public corporations -£0.3bn. Public sector net investment was £8.7bn, up £0.6bn on March 2009. The public sector net cash requirement was £2.6bn lower at £25.8bn. Public sector net debt (PSND) was £890bn or 62% of GDP from £742bn, 52.9% at the end of March 2009.

The financial interventions introduced by the government are still making a difference to the economy. PSNB excluding interventions was £35.5bn in Q4 2009 from £26.4bn in Q4 2008-9. PSND excluding financial interventions in March 2010 was £771.6bn or 53% GDP from £617bn or 44% GDP last year.