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Category Archives: government borrowing

Inflation falling, but will it continue?

There was a fall in the Consumer Prices Index (CPI) in August, when it fell to 2.5% from 2.6% in July, according to the Office of National Statistics. At the same time the Retail Prices Index (RPI), which includes housing costs such as rent and mortgages, fell to 2.9% from 3.2% in July. The fall in inflation had been aided … Continue reading

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Government borrowing finishes year on target

Government borrowing in March, the final month of the financial year, came in at £18.2bn, according to the measure which ignores the temporary effects of financial interventions which include bank bail-outs. Many analysts thought the figure would have been lower, but it was offset by a revised figure for February borrowing which was slashed by £3bn. The Office for Budget … Continue reading

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UK government may beat its borrowing target

The public sector current budget was in surplus by £11.8bn in January (excluding financial interventions involving rescues in the banking sector). This was £2.5bn higher than in the previous January. It is not surprising that a surplus was seen in January as this is historically a month when high tax receipts are seen due to self assessment tax returns falling … Continue reading

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Government borrowing continues to fall

Government borrowing in December fell by £2.2bn from £15.9bn in December 2010 to £13.7bn. This means that borrowing has now fallen for four consecutive months. The figures for the last financial year together with the current financial year are shown below. These are shown using the so-called “ex-measures” which exclude the temporary effects of financial interventions. Cumulative public sector net … Continue reading

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Highest August borrowing figure on record

UK Public Sector Net Borrowing (PSNB) in August was a surprise £15.9 billion. This was a rise of £1.9 billion on August last year and was the highest August total on record, and well above the market forecasts of just over £13 billion. So far this fiscal year, between April and August, total PSNB has totalled £51.5 billion. This is … Continue reading

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Government borrowing lower than forecast

Public sector borrowing, excluding the cost of bailing out the banks, was lower than expected over the 2010-11 financial year. In March 2011, the last month of the financial year, net borrowing was £18.6bn, which was down on the £19.8bn borrowed in March 2010. This means total public sector net borrowing was £141.1bn for the year, which compares with £156.5bn … Continue reading

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Big increase in government borrowing last month

Public sector net borrowing reached £11.8bn in February, which compares with £9.5bn borrowed in February 2010, according to the ONS. This was a record level for any February. The figure was far higher than economists had been forecasting and means that total public sector net borrowing is now at £123.5bn for the financial year to date, which is 9.6% down … Continue reading

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Improvement in public sector finances

Public sector net borrowing in January 2011, showed a surplus of £3.7 billion compared with a deficit of £1.3 billion in the same month last year. Traditionally the country does show a surplus during January as a result of a lot of income tax and corporation tax bills being paid, but these figures are a vast improvement on last year. … Continue reading

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UK austerity measures “unsustainable” says George Soros

George Soros, the billionaire investor and hedge fund manager, gave his views on the UK’s economic policy at the World Economic Forum in Davos in Switzerland yesterday. He is quoted as saying that although he thought the UK government was right to start making cuts he also thought the plans would have to be modified. He said: “I don’t think … Continue reading

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Very positive forecasts from the OBR

The independent Office for Budget Responsibility (OBR) has just published its latest forecasts. It has raised its estimate for economic growth this year to 1.8%, from a previous figure of 1.2%. But, it believes that growth will be slightly slower over the next two years. It believes that there will be 2.1% growth next year, which is down from the … Continue reading

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