Details of the March 2017 UK public sector finances report 25 April 2017
Prior 1.083bn. Revised to -656m
Ex-banks 5.085bn vs 3.200bn exp. Prior 1.803bn. Revised to 64m
PSNCR 34.311bn vs 12.875bn prior. Revised to 12.880bn
Central gov NCR 18.3bn vs -3.6bn prior. Revised to -3.7bn
Public sector net debt 1.612tn or 80.7% of GDP
Lots to look at in the numbers. Much higher borrowing but big revisions lower.
Corporate tax revenues for 2016/17 hit a record 55.7bn which takes them above the pre-crisis peak for the first time.
We've also had finances hit the Chancellors target for the first year since god knows when but that's more due to moving the goal posts. Still, the deficit in the countries coffers is down 28% from last year so it's all good.
Expect Hammond to be shouting about these numbers from the rooftops with the two elections coming soon.
March is a notoriously volatile time of year for the finance figures heading into the financial year end.
GBPUSD isn't doing anything at 1.2811.
UK PSNB
