The U.K. budget gap, excluding interventions, totaled GBP 6.3 billion in April compared to a surplus of GBP 19.1 billion in the prior year, the Office for National Statistics showed Wednesday. However, the deficit was below the consensus forecast of GBP 8.5 billion.
After removing the effects of transfer to Bank of England Asset Purchase Facility Fund, the budget deficit widened to GBP 10.2 billion in April from GBP 8.9 billion a year ago.
The ONS said GBP 3.9 billion was transferred from the Bank of England Asset Purchase Facility Fund to government in April.
The borrowing estimate for 2012/13 was GBP 119.5 billion, marginally lower than net borrowing in 2011/12, when net borrowing was GBP 120.9 billion.
For comments and feedback: editorial@rttnews.com