The UK current budget deficit was estimated to be GBP 5.9 billion at the end of September, the Office for National Statistics, ONS, said Monday. The net borrowing was estimated to be GBP 8.1 billion. This compares with the current budget deficit of GBP 3.3 billion and net borrowing of GBP 4.8 billion in the same period of the previous year.
Overall, net debt was GBP 645.3 billion at the end of September or 43.4% of GDP, while net debt excluding Northern Rock was GBP 563.4 billion or 37.9% of GDP. Net debt excluding Northern Rock was GBP 514.5 billion or 36.2% of GDP in the same year ago period. Total current receipts were GBP 39.2 billion in September, up slightly from the GBP 38.2 billion received in the previous year. The public sector net cash requirement was GBP 12.6 billion, GBP 3.9 billion more than in September 2007.
Current budget deficit in the first nine months of 2008 was GBP 25.5 billion, a sharp increase from the deficit of GBP 13.1 billion in the nine months to September in the previous year. Net borrowings soared to GBP 37.6 billion in the April to September period, from a net borrowing of GBP 21.5 in the same period a year ago. The public sector net cash requirement was GBP 21.2 billion, more than the GBP 13.4 billion net cash requirement in the same period of the prior year.
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