{"id":316,"date":"2013-10-02T07:00:46","date_gmt":"2013-10-02T07:00:46","guid":{"rendered":"http:\/\/www.asadkarim.co.uk\/?p=316"},"modified":"2013-10-02T07:00:46","modified_gmt":"2013-10-02T07:00:46","slug":"uk-government-borrowings-september-2013","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=316","title":{"rendered":"UK Government Borrowings: September 2013"},"content":{"rendered":"

Another month, guess what, it is the same old story, HM Government, spends more money than it receives via taxes. Another deficit month, thus to bridge the gap, needs to borrow on the bond market.<\/p>\n

In September 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.<\/p>\n

There were 4 auctions<\/strong> of Gilts (UK Government Bonds) by the UK Debt Management Office (http:\/\/www.dmo.gov.uk\/<\/a>) to raise cash for HM Treasury:-<\/p>\n

19-Sep-2013 1\u00bc% Treasury Gilt 2018\u00a0 \u00a35,083,730,000<\/strong>
\n12-Sep-2013 2\u00bc% Treasury Gilt 2023\u00a0 \u00a34,124,604,000<\/strong>
\n10-Sep-2013 3\u00bc% Treasury Gilt 2044\u00a0 \u00a33,017,840,000<\/strong>
\n03-Sep-2013 0 1\/8% Index-linked Treasury Gilt 2024 \u00a31,627,140,000<\/strong><\/p>\n

When you add the cash raised:-<\/p>\n

\u2211(\u00a35,083,730,000 + \u00a34,124,604,000 + \u00a33,017,840,000 + \u00a31,627,140,000) = \u00a313,853,310,000 <\/strong><\/p>\n

\u00a0\u00a313,853,310,000 = <\/strong>\u00a313,853,310 Million<\/strong>\u00a0 = \u00a313.853 Billion<\/strong><\/p>\n

On another way of looking at it, is in the 30 days in August HM Government borrowed:-<\/p>\n

\u00a3461 million<\/strong> each day for 30 days<\/strong>. We are fortunate, the global 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, 2018, 2023, 2033 and 2024.<\/strong> All long term borrowings, we are mortgaging our futures.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another month, guess what, it is the same old story, HM Government, spends more money than it receives via taxes. Another deficit month, thus to bridge the gap, needs to borrow on the bond market. In September 2013, the HM Government had to borrow money to meet the difference between tax revenues and public sector […]<\/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-316","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\/316","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=316"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/316\/revisions"}],"predecessor-version":[{"id":317,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/316\/revisions\/317"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}