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.
\nNow we are in a Covid 19 world. UK\u2019s HM Government needs to fund many new demands.<\/p>\n\n\n\n
Another deficit month, thus to bridge the gap, needs to borrow on the bond market In March 2020 , 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 \u201conly\u201d 19 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-<\/p>\n\n\n\n
29-Jul-2020 0 1\/8% Treasury Gilt 2023 \u00a33,500.0000 Million
29-Jul-2020 1 5\/8% Treasury Gilt 2028 \u00a33,008.8750 Million
28-Jul-2020 1 5\/8% Treasury Gilt 2054 \u00a31,874.9990 Million
28-Jul-2020 1\u00bc% Treasury Gilt 2027 \u00a33,437.4990 Million
22-Jul-2020 0 1\/8% Treasury Gilt 2028 \u00a33,000.0000 Million
22-Jul-2020 1\u00bc% Index-linked Treasury Gilt 2032 \u00a3500.0000 Million
21-Jul-2020 0 5\/8% Treasury Gilt 2050 \u00a32,711.0000 Million
21-Jul-2020 1\u00bd% Treasury Gilt 2026 \u00a33,749.9990 Million
15-Jul-2020 1\u00be% Treasury Gilt 2057 \u00a31,500.0000 Million
15-Jul-2020 2\u00bc% Treasury Gilt 2023 \u00a33,250.0000 Million
14-Jul-2020 0 1\/8% Treasury Gilt 2026 \u00a33,834.0950 Million
14-Jul-2020 0 3\/8% Treasury Gilt 2030 \u00a33,750.0000 Million
09-Jul-2020 0 1\/8% Index-linked Treasury Gilt 2041 \u00a31,062.8500 Million
07-Jul-2020 0 1\/8% Treasury Gilt 2023 \u00a33,750.0000 Million
07-Jul-2020 1\u00bc % Treasury Gilt 2041 \u00a32,812.500 Million
02-Jul-2020 0 5\/8% Treasury Gilt 2025 \u00a34,261.1950 Million
02-Jul-2020 4\u00bd% Treasury Gilt 2034 \u00a32,329.2500 Million
01-Jul-2020 0 1\/8% Treasury Gilt 2028 \u00a33,000.0000 Million
01-Jul-2020 0 5\/8% Treasury Gilt 2050 \u00a32,785.9990 Million<\/p>\n\n\n\n
Add:- (\u00a33,500.0000 + \u00a33,008.8750 + \u00a31,874.9990 + \u00a33,437.4990 + \u00a33,000.0000 + \u00a3500.0000 +\u00a32,711.0000 +\u00a33,749.9990 + \u00a31,500.0000 + \u00a33,250.0000 + \u00a33,834.0950 + \u00a33,750.0000 + \u00a31,062.8500 + \u00a33,750.0000 + \u00a32,812.500 + \u00a34,261.1950 + \u00a32,329.2500 + \u00a33,000.0000 + \u00a32,785.9990) Million = \u00a354,118.261 Million<\/strong><\/p>\n\n\n\n \u00a354,118.261 Million = \u00a354.11261 Billion<\/strong><\/p>\n\n\n\n On another way of looking at it, is in the 31 days in July 2020, HM Government borrowed:- \u00a31,745.75 Billion each day for the 31 days.<\/p>\n\n\n\n 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 from 2023 through to 2057. All long term borrowings, we are mortgaging our futures, but at least \u201cWe Are In It Together\u2026.<\/em><\/strong>\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" 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. Now we are in a Covid 19 world. UK\u2019s HM Government needs to fund many new demands. Another deficit month, thus to bridge the gap, needs to borrow on […]<\/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-3602","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\/3602","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=3602"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3602\/revisions"}],"predecessor-version":[{"id":3603,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3602\/revisions\/3603"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}