Economic Buzz: UK Public Borrowing Spurts

Economic Buzz: UK Public Borrowing Spurts

Oct 21, 2021 03:10 IST capital market

The UK budget saw its second biggest deficit for the month of September since the records began in 1993, the Office for National Statistics said on Thursday. Public sector net borrowing excluding public sector banks was GBP 21.8 billion in September, the second-highest September borrowing since monthly records began in 1993. This was GBP 7.0 billion less than in September 2020. In the financial year-to-September 2021, PSNB excluding banks totaled GBP 108.1 billion 2021. This was also the second largest financial year-to-September borrowing on record and was GBP 101.2 billion less than in the same period last year. The public sector net debt excluding public sector banks came in at GBP 2.218 trillion at the end of September, or around 95.5% of gross domestic product, the highest ratio since in March 1963.

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