Down 3.2 bln pounds yr/yr (Il Sole 24 Ore Radiocor) - London, 19 Jul - UK public sector net borrowing, the difference between public sector spending and income, was 14.5 billion pounds in June, 3.2 billion pounds less than in June 2023 and the lowest June borrowing since 2019, according to the Office for National Statistics (ONS).

The interest payable on central government debt was 7.4 billion pounds in June 2024, 5.5 billion less than in June 2023, largely because the interest payable on index-linked gilts rises and falls with the Retail Prices Index.

Public sector net debt excluding public sector banks was provisionally estimated at 99.5% of gross domestic product (GDP) at the end of June, 2.8 percentage points more than at the end of June 2023, and remains at levels last seen in the early 1960s, ONS commented.

Excluding the Bank of England, debt was 91.6% of GDP, 4.8 percentage points more than at the end of June 2023.

Public sector net worth excluding public sector banks was in deficit by 726.4 billion pounds at the end of June 2024, a 77.2 billion larger deficit than at the end of June 2023.

Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was 14.5 billion pounds in June 2024, 5.6 billion less than in June 2023.

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(RADIOCOR) 19-07-24 08:21:52 (0139) 5 NNNN