UK July public sector net borrowing -£2.0 billion vs -£3.4 billion expected

News

Latest data released by ONS – 21 August 2019

  • Prior £6.5 billion; revised to £5.7 billion
  • PSNB (ex banks) -£1.3 billion vs -£2.9 billion expected
  • Prior £7.2 billion; revised to £6.3 billion
  • PSNCR -£13.5 billion
  • Prior £15.2 billion

ForexLive

Looking at the details, the UK budget deficit is seen soaring in the first four months of the fiscal year. The deficit sits at £16 billion between April to July, which is 60% more than the same period in the last fiscal year.

If anything else, that just goes to show that the economic downturn is taking a bit of a toll with spending rising much, much faster than the pace of revenue.

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