UK PSNB December 2017 0.979bn vs 4.400bn exp

December 2017 UK public sector finance data 23 January 2018

Prior 8.118bn
Ex-banks 2.591bn vs 5.000bn exp. Prior 8.694bn
PSNCR 25.130bn vs 12.933bn prior
Central gov NCR 18.8bn vs 12.3bn prior

Good numbers.

PSNB Ex Banks fell 6.6B to 50.0B vs same period 2016; lowest YTD net borrwoing since 2007
The atypical EU credit of 1.2B due to budget amendments; largest credit received by UK on record
VAT receipts of 12.3B highest amount for a December or any month
Carillion’s insolvency not an immediate factor and will play out over coming months
OBR forecasts for 2017/18 borrowing stand at 49.9B

The VAT receipts coming in at the highest on record is good news, and we’ve had a bonus from the EU budget adjustment. That means we could see that wash out next month but, January is a big tax month for self-employed folks to pony up the dough, and that will be a good indicator of finances at the lower end of the business scale.

Not much of a move in GBP but cable has ticked up from that 1.3940 level to 1.3951.