Latest data released by ONS – 21 March 2018
- Prior -£11.6 bn; revised to -£11.5 bn
- Public sector net borrowing (ex-banks) £1.3 bn vs £1.8 bn expected
- Prior (ex-banks) -£10.0 bn; revised to -£10.1 bn
- Public finances (PSNCR) £18.6 bn vs -£26.4 bn prior; revised to -£26.2 bn
Pretty much in line with prior years where January spending is less than the income received, then we move back to “normality”.
On net, public sector debt (ex-banks and BOE) was equivalent to 75.8% of GDP – which represents a decline of £16.4 billion from the same period last year.
here was solid all around. Higher wages growth, lower unemployment rate. Just what the BOE is looking for in order to support the consumer rhetoric and UK growth.