Friday, May 21, 2010

UK Analysis: Public Borrowing Hits Highest On Record In April

Public Sector Net Borrowing hit a record level for the month in April, although upward revisions to receipts growth means borrowing in the last fiscal year was revised down sharply, according to figures released by National Statistics Friday. Public sector borrowing stood at Stg9.955 billion in April, up from Stg8.826 billion in the same month a year earlier, the highest outturn for an April on record, albeit broadly in line with the median forecast of Stg10.5 billion. There was, however, a sharp downward revision to borrowing in March to Stg17.973 billion from an originally estimated Stg23.5 billion outturn. National Statistics said that this was mainly due to higher receipts...full story

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