1.8 bln pounds more than in July 2023 (Il Sole 24 Ore Radiocor) - London, 21 Aug - In July, UK public net borrowing was 3.1 billion pounds, 1.8 billion more than in July 2023 and the highest July borrowing since 2021, according to the Office for National Statistics (ONS).

Borrowing in the financial year to July 2024 was 51.4 billion pounds, 0.5 billion less than in the same four-month period a year earlier but the fourth highest year-to-July borrowing since monthly records began in January 1993.

Public sector net debt excluding public sector banks was provisionally estimated at 99.4% of gross domestic product (GDP) at the end of July 2024; this was 3.8 percentage points more than at the end of July 2023, and remains at levels last seen in the early 1960s, ONS noted.

Excluding the Bank of England, debt was 91.9% of GDP.

Public sector net worth excluding public sector banks was in deficit by 739.9 billion pounds at the end of July 2024, a 123.3 billion larger deficit than at the end of July 2023.

Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was 29.6 billion pounds in July 2024, 19.6 billion more than in July 2023. In July 2024, the redemption of an index-linked gilt increased central government net cash requirement by around 14.5 billion pounds.

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(RADIOCOR) 21-08-24 08:19:49 (0142) 5 NNNN