{"id":1643,"date":"2016-06-03T01:49:42","date_gmt":"2016-06-03T01:49:42","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=1643"},"modified":"2016-06-01T10:52:21","modified_gmt":"2016-06-01T10:52:21","slug":"hm-government-borrowings-may-2016","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=1643","title":{"rendered":"HM Government Borrowings: May 2016"},"content":{"rendered":"<p>Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Another deficit month, thus to bridge the gap, needs to borrow on the bond market.<\/p>\n<p>In May 2016, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement.<\/p>\n<p>There were \u201conly\u201d 4 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office (<a href=\"http:\/\/www.dmo.gov.uk\/\" target=\"_blank\">http:\/\/www.dmo.gov.uk\/<\/a>) to raise cash for HM Treasury:-<\/p>\n<p>18-May-2016 4\u00bc% Treasury Stock 2036 <strong>\u00a31,500 Million<\/strong><br \/>\n10-May-2016 0 1\/8% Index-linked Treasury Gilt 2058 <strong>\u00a3756.1400 Million<\/strong><br \/>\n05-May-2016 1\u00bd% Treasury Gilt 2026 <strong>\u00a32,874.9840 Million<\/strong><br \/>\n04-May-2016 1\u00bd% Treasury Gilt 2021 <strong>\u00a33,162.4980 Million<\/strong><\/p>\n<p>When you add the cash raised:-<\/p>\n<p>\u2211(\u00a31,500 Million + \u00a3756.1400 Million + \u00a32,874.9840 Million + \u00a33,162.4980 Million) =\u00a0 <strong>\u00a38,293.622 Million<\/strong><\/p>\n<p>\u00a38,293.622 Million = <strong>\u00a38.293622 Billion<\/strong><\/p>\n<p>On another way of looking at it, is in the 31 days in May, HM Government borrowed:-<\/p>\n<p><strong>\u00a3267 million each day for the 31 days<\/strong>.<\/p>\n<p>We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature <em><strong>2021, 2026, 2036 and 2058<\/strong><\/em>. All long term borrowings, we are mortgaging our futures, but at least \u201c<em><strong>We are in it together\u2026.<\/strong><\/em>\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties. Another deficit month, thus to bridge the gap, needs to borrow on the bond market. In May 2016, the HM Government had to borrow money to meet the difference [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1643","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1643"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1643\/revisions"}],"predecessor-version":[{"id":1644,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1643\/revisions\/1644"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}