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Public sector net borrowing was £13.4 billion in November

Friday, Dec 19 2014
Public sector net borrowing was £13.4 billion in November 2014, below expected figure of £14.1 billion and a decrease of £1.6 billion compared with November last year. This additional borrowing needed to balance the public sector’s accounts means that between April and November 2014 the public sector borrowed £75.8 billion, a fall of £0.5 billion compared with the same period last year, as illustrated above.
 
Between April and November 2014 central government’s income was £388.0 billion. While strong year-on-year growth in VAT (up £2.7 billion to £81.8 billion) and stamp duty (up £1.6 billion to £9.7 billion) have boosted government receipts, income tax receipts have been weak. In the first 8 months of the financial year income tax receipts were up £1.1 billion to £95.0 billion, compared to the same period last year.
 
Data did not have any major impact on the market with Sterling currently being traded few points above 1.5660 level. Later today, CBI Realized Sales figures are scheduled for a release.
More in this category: « German Consumer Climate up to 9.0 points CBI Realized Sales survey showed highest balance since January 1988 »

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