September 2017 UK Public sector finances report 20 September 2017

  • Prior 5.093bn. Revised to 4.140bn
  • Ex-banks 5.902bn vs 6.5000bn exp. Prior 5.669bn. Revised to 4.176bn
  • PSNCR 11.205bn vs 0.037bn prior. Revised to 0.339bn
  • Central government NCR 19.3bn vs 1.1bn prior

ONS note;

  • Borrowing in financial YTD 32.5B, 2.5B lower than a yr-ago
  • September 2017 borrowing of 5.9B is 0.7B lower than same period 2016
  • September 2017 net borrowing is the lowest YTD read since 2007
  • Stamp Duty, VAT and income tax all contribute to receipts this month
  • Current expenditure 0.9B, largely from Goods & Services
  • VAT receipts have risen consecutively since April 2015

Very interesting numbers, the reason being that Hammond makes his Autumn statement next month and he’s been given a gift of the smallest budget deficit in 10 years. There’s probably going to be a lot of digging into these numbers by the opposition to see if there’s been any accounting smoke and mirrors. The deficit has now been sliding for the last 3 months. Revenues were looking good from tax and vat but corp tax receipts were down a touch vs last year.

Overall, nothing to trade on but Hammond will have something to crow about in Parliament next month.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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