Category Archive: Monthly public finances release

Deficit continues to fall sharply in 2018-19

Double-digit growth in tax receipts in January generated a record monthly budget surplus, up sharply relative to last year. Over the first ten months of 2018-19, borrowing is now down almost half relative to the same period in 2017-18 – a slightly larger fall than implied by our latest full-year forecast.

Deficit continues to fall significantly in 2018-19

Higher spending pushed borrowing up slightly in December, relative to last year. But over the first nine months of 2018-19, borrowing is still down by more than a quarter relative to the same period in 2017-18.

Deficit up in October but down sharply so far in 2018-19

Higher spending growth in October pushed the deficit up relative to last October. But strong receipts growth means borrowing in the first seven months of 2018-19 is still down almost 30 per cent relative to the same period in 2017-18.

Strong receipts growth keeps deficit falling

Strong tax receipts and lower debt interest payments are sustaining a sharp fall in the budget deficit relative to last year. Extrapolating performance over the year to date would see the full-year deficit come in £11 billion lower than forecast in March, however the recent strength of cash corporation tax receipts is not yet being…

Year to date borrowing continues to fall

Despite rising in August, borrowing in the first five months of 2018-19 was almost a third lower than in the same period last year. On a like-for-like basis receipts growth has so far outpaced our full-year March forecast, while debt interest spending is already down £2.2 billion on last year.