{"id":198,"date":"2013-08-06T06:51:00","date_gmt":"2013-08-06T06:51:00","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=198"},"modified":"2013-08-06T06:51:52","modified_gmt":"2013-08-06T06:51:52","slug":"hm-government-july-2013-monthly-borrowings","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=198","title":{"rendered":"HM Government July 2013 Monthly Borrowings."},"content":{"rendered":"<p>In July 2013, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The <em><strong>PSNCR<\/strong><\/em>: The Public Sector Net Cash Requirement.<\/p>\n<p>There were 3 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office (<a title=\"UK Debt Management Office\" href=\"http:\/\/www.dmo.gov.uk\/\" target=\"_blank\">http:\/\/www.dmo.gov.uk\/<\/a>) to raise cash for HM Treasury:-<\/p>\n<p>11-Jul-2013 3\u00bc% Treasury Gilt <em><strong>2044<\/strong><\/em>, <strong>\u00a32,575.0150 Million<\/strong><\/p>\n<p>09-Jul-2013 0 1\/8% Index-linked Treasury Gilt <em><strong>2029, <\/strong><\/em><strong>\u00a31,487.1650 Million<\/strong><\/p>\n<p>02-Jul-2013 2\u00bc% Treasury Gilt <em><strong>2023, <\/strong><\/em><strong>\u00a33,849.7770 Million<\/strong><\/p>\n<p>When you add the cash raised:-<\/p>\n<p>\u2211(\u00a32,575.0150 Million + \u00a31,487.1650 Million + \u00a33,849.7770 Million) = <strong>\u00a37,911.96 Million<\/strong><\/p>\n<p>\u00a37,911.96 Million = <strong>\u00a37.911960 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>\u00a3255 million\u00a0each day for 31 days. <\/strong>We are fortunate, the\u00a0global banking and financial markets still has the confidence in HM Government to buy the Gilts. The budget deficit keeps rising. What is also alarming, is the dates these bond mature, <em><strong>2044<\/strong><\/em>, <em><strong>2029<\/strong><\/em> &amp; <em><strong>2023<\/strong><\/em>. All long term borrowings, we are mortgaging our futures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In July 2013, 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. There were 3 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office (http:\/\/www.dmo.gov.uk\/) to raise cash for HM [&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-198","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\/198","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=198"}],"version-history":[{"count":3,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/198\/revisions"}],"predecessor-version":[{"id":248,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/198\/revisions\/248"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}