{"id":5105,"date":"2023-07-21T01:30:00","date_gmt":"2023-07-21T01:30:00","guid":{"rendered":"https:\/\/www.asadkarim.co.uk\/?p=5105"},"modified":"2023-07-14T09:31:32","modified_gmt":"2023-07-14T09:31:32","slug":"hm-government-borrowings-june-2023","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=5105","title":{"rendered":"HM Government Borrowings: June 2023"},"content":{"rendered":"\n<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.<br>Now we are in a post Covid 19 world. UK\u2019s HM Government needs to fund many new demands. [<a href=\"https:\/\/www.dmo.gov.uk\">www.dmo.gov.uk<\/a>]<\/p>\n\n\n\n<p><a href=\"https:\/\/dmo.gov.uk\/data\/pdfdatareport?reportCode=D2.1PROF7\">https:\/\/dmo.gov.uk\/data\/pdfdatareport?reportCode=D2.1PROF7<\/a><\/p>\n\n\n\n<p>Another deficit month, thus to bridge the gap, needs to borrow on the bond market in June 2023, 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 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-<\/p>\n\n\n\n<p>28-Jun-2023 3\u00be% Treasury Gilt 2038 3,437.4990 Million<br>27-Jun-2023 0\u00be% Index-linked Treasury Gilt 2033 3 months 1,690.3500 Million<br>20-Jun-2023 4\u00bd% Treasury Gilt 2028 4,687.4990 Million<br>13-Jun-2023 3\u00bc% Treasury Gilt 2033 3,500.0000 Million<br>07-Jun-2023 3\u00bd% Treasury Gilt 2025 4,076.1620 Million<br>06-Jun-2023 3\u00be% Treasury Gilt 2053 3,112.4990 Million<\/p>\n\n\n\n<p>\u00a33,437.4990 Million + \u00a31,690.3500 Million + \u00a34,687.4990 Million + \u00a33,500.0000 Million + \u00a34,076.1620 Million + \u00a33,112.4990 Million = <strong>\u00a320,504.009 Million<\/strong><\/p>\n\n\n\n<p>\u00a320,504.009 Million = <strong>\u00a320.504009 Billion<\/strong><\/p>\n\n\n\n<p>On another way of looking at it, is in the 30 days in June 2023, HM Government borrowed:- <strong>\u00a3683.46696666666666666666666666667 Million each day<\/strong> for the 31 days.<\/p>\n\n\n\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 bonds maturing from 2025 to 2053. All long-term borrowings, we are mortgaging our futures, but at least \u201c<strong><em>We Are In It Together\u2026\u2026<\/em><\/strong>\u201c<\/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.Now we are in a post Covid 19 world. UK\u2019s HM Government needs to fund many new demands. [www.dmo.gov.uk] https:\/\/dmo.gov.uk\/data\/pdfdatareport?reportCode=D2.1PROF7 Another deficit month, thus to bridge the gap, needs to [&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-5105","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\/5105","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=5105"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/5105\/revisions"}],"predecessor-version":[{"id":5106,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/5105\/revisions\/5106"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}