FOREX TradingCharts.com

Financial News: UK Budget Deficit At Second Highest November Level

UK Budget Deficit At Second Highest November Level On Record

12/21/2021 - 05:47:00 (RTTNews)

(RTTNews) - The UK budget deficit widened to its second-highest level for the month of November since records began in 1993, largely due to the surge in the debt cost, the Office for National Statistics said on Tuesday.

Public sector net borrowing totaled GBP 17.4 billion in November, down by GBP 4.9 billion from the same period last year. This was also bigger than the economists' forecast of GBP 16 billion. Current receipts grew 4.3 percent on a yearly basis, while the expenditure decreased 6.9 percent.

In the financial year-to-November, the budget deficit decreased by GBP 115.8 billion from the last year to GBP 136.0 billion. This was also the second-highest financial year-to-November borrowing on record.

During the financial year to November, interest payments increased sharply by 54.1 percent on a yearly basis.

At the end of November, public sector net debt excluding public sector banks came in at GBP 2,317.7 billion, or around 96.1 percent of gross domestic product. This was the highest ratio since March 1963.

Further, data showed that central government net cash requirement was GBP 13.1 billion in November, a GBP 10.9 billion less than in November 2020.

Tighter virus restrictions would probably prompt deterioration in the public finances by reducing tax revenues and potentially forcing the government to step up fiscal support for the most affected sectors, Bethany Beckett, an economist at Capital Economics, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Malaysia Inflation Slows In December (09 min(s) ago)
(RTTNews) - Malaysia's consumer prices inflation eased in December, data from the Department o ...Full Story»

UK Retail Sales Decline More Than Expected In December (58 min(s) ago)
(RTTNews) - UK retail sales declined more than expected at the end of the year, data from the Offi ...Full Story»

UK Consumer Sentiment Weakens In January: GfK (01 hr(s), 51 min(s) ago)
(RTTNews) - UK consumer confidence weakened in January amid concerns over higher inflation and int ...Full Story»

European Economics Preview: UK Retail Sales Data Due (02 hr(s), 48 min(s) ago)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story»

Japan Inflation Climbs 0.8% On Year In December (51 min(s) ago)
(RTTNews) - Overall consumer prices in Japan were up 0.8 percent on year in December, the Ministry ...Full Story»

Japan Inflation Data Due On Friday (46 min(s) ago)
(RTTNews) - Japan will on Friday release December data for consumer prices, highlighting a modest ...Full Story»

ECB Minutes Show Caution About 'Higher For Longer' Inflation (44 min(s) ago)
(RTTNews) - European Central Bank policymakers retained the view that the current spike in inflati ...Full Story»

Indonesia Central Bank Leaves Rates Unchanged (50 min(s) ago)
(RTTNews) - Indonesia's central bank on Thursday left its key interest rate unchanged again in ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Malaysia Inflation Slows In December

01/21/2022 - 03:35 AM (RTTNews)
(RTTNews) - Malaysia's consumer prices inflation eased in December, data from the Department o ...Full Story>>

UK Retail Sales Decline More Than Expected In December

01/21/2022 - 02:46 AM (RTTNews)
(RTTNews) - UK retail sales declined more than expected at the end of the year, data from the Offi ...Full Story>>

UK Consumer Sentiment Weakens In January: GfK

01/21/2022 - 01:53 AM (RTTNews)
(RTTNews) - UK consumer confidence weakened in January amid concerns over higher inflation and int ...Full Story>>

European Economics Preview: UK Retail Sales Data Due

01/21/2022 - 00:56 AM (RTTNews)
(RTTNews) - Retail sales data from the UK is due on Friday, headlining a light day for the Europea ...Full Story>>

Japan Inflation Climbs 0.8% On Year In December

01/20/2022 - 20:35 PM (RTTNews)
(RTTNews) - Overall consumer prices in Japan were up 0.8 percent on year in December, the Ministry ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.