U.K. public sector net borrowing that excludes financial interventions showed a surplus of GBP 16.5 billion in April, the Office for National Statistics showed Tuesday. During the same period of last year, net borrowing was GBP 9.1 billion.
This month's figures include a large one-off transfer to Government of GBP 28 billion, as part of the transfer of the Royal Mail Pension Plan.
Public sector net debt at the end of April totaled GBP 1006.3 billion or 64.8 percent of GDP. This compares to 60.6 percent debt at the end of April 2011.
The central government net cash requirement posted a surplus of GBP 6.9 billion, a GBP 14.5 billion lower net cash requirement than in the previous year.
Including interventions, public sector net borrowing was in GBP 18.8 billion surplus compared to GBP 6.2 billion borrowing a year ago.
by RTT Staff Writer
For comments and feedback: email@example.com