ONS figures: Public sector net borrowing down more than thought

23 May 17

Public sector net borrowing fell by more than thought in April - by £23.4bn to £48.7bn in the financial year ending March 2017, according to Office for National Statistics figures.

The revised figures, out today, show, as they did in April, that this is the lowest net borrowing since the financial year ending March 2008.

Figures from the ONS last month showed public sector net borrowing for the financial year ending March 2017 - year on year - decreased by £20bn to £52bn.

Although, the revised figures also showed public sector net borrowing increased by £1.2bn to £10.4bn in April 2017 compared with April 2016 - this is the highest April borrowing since 2014.

The ONS figures also revealed public sector net debt (excluding public sector banks) was £1,722.4bn at the end of April 2017, equivalent to 86% of GDP - an increase of £114.1bn on April 2016.

Public sector net debt (excluding both public sector banks and Bank of England) was £1,593.2bn at the end of April 2017, equivalent to 79.5% of GDP; an increase of £31.5bn on April 2016.

While central government net cash requirement was in surplus by £16.2bn in April 2017 this was largely due to the sale of £11.8bn of Bradford & Bingley loans to Prudential.

ONS graph on UK public sector net borrowing (excluding public sector banks), April 1993 to April 2017:

ONS pubic sector net borrowing graph

 

 

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