Economic Buzz: UK Public Sector Finances

24 May 2022 , 02:52 PM

UKs public sector net borrowing excluding public sector banks (PSNB ex) was ?18.6 billion in April 2022, ?5.6 billion less than in April 2021, but still ?7.9 billion more than in April 2019, pre-coronavirus (COVID-19) pandemic. Central government receipts were ?70.2 billion in April 2022, ?9.9 billion more than in April 2021, of which tax receipts were ?50.2 billion, an increase of ?5.5 billion. Central government current (or day-to-day) expenditure was ?76.0 billion in April 2022, ?6.7 billion less than in April 2021, with the additional ?3.0 billion cost of the Council Tax rebate payments being offset by reductions in other areas of expenditure, including subsidies and transfers to local government. Public sector net debt excluding public sector banks and the Bank of England (PSND ex BoE) was ?2,027.0 billion at the end of April 2022, or around 82.6% of GDP, an increase of ?95.5 billion or a reduction of 1.9 percentage points of GDP compared with April 2021. Powered by Commodity Insights