{"id":3738,"date":"2020-12-13T04:54:59","date_gmt":"2020-12-13T04:54:59","guid":{"rendered":"https:\/\/www.asadkarim.co.uk\/?p=3738"},"modified":"2020-12-07T10:55:54","modified_gmt":"2020-12-07T10:55:54","slug":"hm-government-borrowings-nov-2020","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=3738","title":{"rendered":"HM Government Borrowings Nov 2020"},"content":{"rendered":"\n

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.<\/p>\n\n\n\n

Now we are in a Covid 19 world. UK\u2019s HM Government needs to fund many new demands. [www.dmo.gov.uk<\/a>]<\/p>\n\n\n\n

https:\/\/www.dmo.gov.uk\/dmo_static_reports\/Gilt%20Operations.pdf<\/a><\/p>\n\n\n\n

Another deficit month, thus to bridge the gap, needs to borrow on the bond market In October 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 15 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-<\/p>\n\n\n\n

24-Nov-2020 1\u00bc% Treasury Gilt 2027 \u00a33,002.7500 Million
\n24-Nov-2020 1\u00be% Treasury Gilt 2057 \u00a31,562.4990 Million
\n18-Nov-2020 0 5\/8% Treasury Gilt 2035 \u00a32,500.0000 Million
\n17-Nov-2020 0 1\/8% Treasury Gilt 2024 \u00a34,062.4990 Million
\n17-Nov-2020 0 5\/8% Treasury Gilt 2050 \u00a32,500.0000 Million
\n12-Nov-2020 0\u00bc% Treasury Gilt 2031 \u00a33,749.9990 Million
\n12-Nov-2020 1 5\/8% Treasury Gilt 2054 \u00a31,562.4990 Million
\n11-Nov-2020 0 1\/8% Index-linked Treasury Gilt 2036 3 months \u00a3861.4000 Million
\n04-Nov-2020 0 1\/8% Treasury Gilt 2026 \u00a33,000.0000 Million
\n03-Nov-2020 0 1\/8% Treasury Gilt 2028 \u00a33,405.6250 Million
\n03-Nov-2020 1\u00bc % Treasury Gilt 2041 \u00a32,499.9990 Million<\/p>\n\n\n\n

[\u00a33,002.7500 Million+\u00a31,562.4990 Million+\u00a32,500.0000 Million+\u00a34,062.4990 Million+\u00a32,500.0000 Million+\u00a33,749.9990 Million+\u00a31,562.4990 Million+\u00a3861.4000 Million+\u00a33,000.0000 Million+\u00a33,405.625 Million+\u00a32,499.9990 Million = \u00a328,707.27 Million]<\/p>\n\n\n\n

\u00a328,707.27 Million = \u00a328.70727 Billion<\/strong><\/p>\n\n\n\n

On another way of looking at it, is in the 30 days in November 2020, HM Government borrowed:- \u00a3956.909 Million each day for the 30 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 2024 through to 2045. All long term borrowings, we are mortgaging our futures, but at least \u201cWe Are In It Together\u2026<\/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. [www.dmo.gov.uk] https:\/\/www.dmo.gov.uk\/dmo_static_reports\/Gilt%20Operations.pdf Another deficit month, thus to bridge the gap, needs to […]<\/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-3738","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\/3738","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=3738"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3738\/revisions"}],"predecessor-version":[{"id":3739,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3738\/revisions\/3739"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}