WIREDGOV

Key Points

• From April to December 2014, public sector net borrowing excluding public sector banks (PSNB ex) was £86.3 billion; a decrease of £0.1 billion compared with the same period in 2013/14.
• In December 2014, PSNB ex was £13.1 billion, an increase of £2.9 billion compared with December 2013.
• In December 2014, central government expenditure included a £2.9 billion European Commission (EC) budget contribution. This expenditure in turn increased the public sector current budget deficit and net borrowing but has no corresponding increase in net cash requirement or net debt (until the cash is actually paid in 2015). Details of this payment can be found in Section 8 (Recent events and methodological changes) of this bulletin.
• Due to the volatility of the monthly data, the cumulative financial year-to-date borrowing figures provide a better indication of the progress of the public finances than the individual months.
• From April to December 2014, the central government net cash requirement (CGNCR) was £87.1 billion; an increase of £18.9 billion compared with the same period in 2013/14. This was largely as a result of cash transfers from the Asset Purchase Facility being £20.2 billion lower in year-to-date 2014/15 than in the same period in 2013/14.
• At the end of December 2014, public sector net debt excluding public sector banks (PSND ex) was £1,483.3 billion (80.9% of GDP); an increase of £94.6 billion compared with December 2013.
• At the end of December 2014 General Government Gross Debt (Maastricht debt) was £1,601.9 billion (87.4 % of GDP) and General Government Net Borrowing (Maastricht deficit) in 2013/14 was £100.4 billion (5.8% of GDP).

Get all the tables for this publication in the data section of this publication.