British public finances dive more than anticipated in December

British public finances dive more than anticipated in December

In December, British public finances dived more than anticipated, as official data revealed on Tuesday.

The Office for National Statistics informed that in December British public sector net borrowing slumped to a seasonally updated £0.98 billion from £6.65 billion in November, whose figure was updated down from £8.12 billion.

Market experts had expected the net borrowing would go down to £4.20 billion.

The ONS informed that public sector net borrowing without public sector banks went down by £6.6 billion hitting £50.0 billion from April 2017 to December 2017 versus the same period of 2016.

As the Office for Budget Responsibility predicts, public sector net borrowing without public sector banks is going to hit £49.9 billion by March 2018, which is a jump of £3.9 billion on the outturn net borrowing by March 2017.

Aside from that the report also disclosed that the British public sector net cash requirement inched up from £13.152 billion to £25.13 billion, updated upward from the initial outcome of £12.933 billion.

 

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