{"id":3096,"date":"2010-10-20T10:31:33","date_gmt":"2010-10-20T10:31:33","guid":{"rendered":"https:\/\/mmm.9dotdigital.ca\/?p=3096"},"modified":"2025-03-27T15:49:08","modified_gmt":"2025-03-27T15:49:08","slug":"uk-public-borrowing-still-on-course-for-undershoot","status":"publish","type":"post","link":"https:\/\/mmm.9dotdigital.ca\/?p=3096","title":{"rendered":"UK public borrowing still on course for undershoot"},"content":{"rendered":"

Public sector net borrowing excluding the temporary impact of financial interventions (PSNB ex) rose to £16.2 billion in September from £15.5 billion a year earlier. Incorporating a £0.7 billion downward revision to earlier months in 2010-11, however, borrowing still looks on course to undershoot the Office for Budget Responsibility’s (OBR) full-year forecast of £149 billion.<\/p>\n

The chart shows a crude attempt to adjust the monthly numbers for seasonal variation: adjusted borrowing averaged £11.75 billion in the first six months of the fiscal year, or £141 billion annualised – see chart. The OBR forecast, therefore, implies renewed deterioration over the remainder of 2010-11. This is unlikely because the benefits of economic recovery should grow as the year progresses while much of the £8.1 billion of spending cuts and tax rises announced since the election has yet to take effect. <\/p>\n

Central government current expenditure rose by 6.8% in the six months to September from a year earlier, above the OBR’s projection of full-year growth of 5.6%. This was more than offset, however, by a 9.2% increase in current receipts, versus a 6.5% full-year forecast.<\/p>\n

The figures also indicate that capital spending has yet to be reined back. Public sector net investment was little changed in the six months to September from a year earlier, implying a drastic cut over the remainder of 2010-11 to achieve the OBR projection of a 21% full-year reduction.
\"\"<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Public sector net borrowing excluding the temporary impact of financial interventions (PSNB ex) rose to £16.2 billion in September from £15.5 billion a year earlier. Incorporating a £0.7 billion downward revision to earlier months in 2010-11, however, borrowing still looks on course to undershoot the Office for Budget Responsibility’s (OBR) full-year forecast of £149 billion. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3096","post","type-post","status-publish","format-standard","hentry","category-money-moves-markets"],"_links":{"self":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3096"}],"version-history":[{"count":1,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3096\/revisions"}],"predecessor-version":[{"id":5405,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=\/wp\/v2\/posts\/3096\/revisions\/5405"}],"wp:attachment":[{"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mmm.9dotdigital.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}