{"id":1726,"date":"2016-08-04T01:43:11","date_gmt":"2016-08-04T01:43:11","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=1726"},"modified":"2016-08-08T07:03:57","modified_gmt":"2016-08-08T07:03:57","slug":"hm-government-borrowings-july-2016","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=1726","title":{"rendered":"HM Government Borrowings: July 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 July 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 \u201c<strong>only<\/strong>\u201d\u00a04 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>20-Jul-2016 4\u00bc% Treasury Gilt 2039 <strong>\u00a31,500.0000 Million<\/strong><br \/>\n13-Jul-2016 0 1\/8% Index-linked Treasury Gilt 2026 <strong>\u00a31,250.0000 Million<\/strong><br \/>\n07-Jul-2016 1\u00bd% Treasury Gilt 2026 <strong>\u00a32,584.3190 Million<\/strong><br \/>\n05-Jul-2016 1\u00bd% Treasury Gilt 2021 <strong>\u00a32,874.9960 Million<\/strong><\/p>\n<p>When you add the cash raised:-<\/p>\n<p>\u2211(1,500 Million + \u00a31,250 Million + \u00a32,584.319 Million + \u00a32,874.9960 Million =\u00a0 <strong>\u00a38,209.32 Million<\/strong><\/p>\n<p>\u00a38,209.32\u00a0 Million = <strong>\u00a38.209 Billion<\/strong><\/p>\n<p>On another way of looking at it, is in the 31 days in July, HM Government borrowed:-<\/p>\n<p><strong>\u00a3264 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 2021, 2026 and 2039. 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 July 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-1726","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\/1726","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=1726"}],"version-history":[{"count":2,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1726\/revisions"}],"predecessor-version":[{"id":1740,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1726\/revisions\/1740"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}