{"id":590,"date":"2014-06-12T06:59:10","date_gmt":"2014-06-12T06:59:10","guid":{"rendered":"http:\/\/www.asadkarim.co.uk\/?p=590"},"modified":"2014-06-12T07:00:29","modified_gmt":"2014-06-12T07:00:29","slug":"hm-government-borrowings-may-2014","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=590","title":{"rendered":"HM Government Borrowings: May 2014"},"content":{"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. Another deficit month, thus to bridge the gap, needs to borrow on the bond market.<\/p>\n<p>In <strong>May 2014<\/strong>, 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<p>There were \u201c<em><strong>only<\/strong><\/em>\u201d 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>28-May-2014 0\u00bc% Index-linked Treasury Gilt 2052\u00a0 \u00a3<strong>1,209.97 Million<\/strong><br \/>\n15-May-2014 4\u00bd% Treasury Gilt 2034\u00a0 \u00a3<strong>2,181.56 Million<\/strong><br \/>\n07-May-2014 0 1\/8% Index-linked Treasury Gilt 2044\u00a0 \u00a3<strong>1,272.96 Million<\/strong><\/p>\n<p>When you add the cash raised:-<\/p>\n<p>\u2211(\u00a31,209.97 million + \u00a32,181.56 million + \u00a31,272.96 million) = <strong>\u00a34,664.49 Million<\/strong><\/p>\n<p>\u00a34,664.49 Million = <strong>\u00a34.664 Billion<\/strong><\/p>\n<p>On another way of looking at it, is in the 31 days in May, HM Government borrowed:-<\/p>\n<p><strong>\u00a3150 million each day\u00a0 for 31 days of May<\/strong>. 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, <em><strong>2052, 2034<\/strong><\/em> and <em><strong>2044<\/strong><\/em>. All long term borrowings, we are mortgaging our futures, <em><strong>but at least<\/strong><\/em> we are \u201c<strong>in it together\u2026<\/strong>\u201d<\/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. Another deficit month, thus to bridge the gap, needs to borrow on the bond market. In May 2014, the HM Government had to borrow money to meet the difference [&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-590","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\/590","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=590"}],"version-history":[{"count":2,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/590\/revisions"}],"predecessor-version":[{"id":592,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/590\/revisions\/592"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}