“This number was flattered by a £3.9bn transfer from the BoE’s APF”. “May’s number was revised up from £8.8bn to £11.0bn—although this too was expected and was due to a change in the treatment of the government’s Swiss tax deal”. “Excluding all one off factors (Royal Mail transfers, APF transfers, financial interventions), public sector net borrowing for the first quarter of the 2013/14 fiscal year was exactly the same as in 2012/13 at £35.9bn”.
Posted on: Fri, 19 Jul 2013 10:21:55 +0000
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