{"id":1877,"date":"2016-12-03T01:35:46","date_gmt":"2016-12-03T01:35:46","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=1877"},"modified":"2016-12-02T14:38:41","modified_gmt":"2016-12-02T14:38:41","slug":"hm-government-november-borrowings","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=1877","title":{"rendered":"HM Government November Borrowings"},"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 November 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 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>22-Nov-2016 1\u00bd% Treasury Gilt 2026 <strong>\u00a32,874.9960 Million<\/strong><br \/>\n17-Nov-2016 0 1\/8% Index-linked Treasury Gilt 2026 <strong>\u00a31,100.0000 Million<\/strong><br \/>\n08-Nov-2016 1\u00be% Treasury Gilt 2037 <strong>\u00a32,711.0900 Million<\/strong><br \/>\n01-Nov-2016 0\u00bd% Treasury Gilt 2022<strong> \u00a32,750.0000 Million<\/strong><\/p>\n<p>[<a href=\"http:\/\/www.dmo.gov.uk\/reportView.aspx?rptCode=D2.1prof7&amp;rptName=47806644&amp;reportpage=Summary_of_results\" target=\"_blank\">http:\/\/www.dmo.gov.uk\/reportView.aspx?rptCode=D2.1prof7&amp;rptName=47806644&amp;reportpage=Summary_of_results<\/a>]<\/p>\n<p>When you add the cash raised:-<\/p>\n<p>\u2211(\u00a32,874.9960\u00a0 Million + \u00a31,100.0000 Million + \u00a32,711.0900 Million + \u00a32,750.0000\u00a0 Million =\u00a0 9,436.086 Million<\/p>\n<p>\u00a39,436.086 Million = \u00a39.436086 Billion<\/p>\n<p>On another way of looking at it, is in the 30 days in November, HM Government borrowed:-<\/p>\n<p><strong>\u00a3314 million each day<\/strong> for the 30 days.<\/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 2022, 2026, and 2043. 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 November 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-1877","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\/1877","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=1877"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1877\/revisions"}],"predecessor-version":[{"id":1878,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1877\/revisions\/1878"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}