Public sector borrowing

The latest public sector borrowing is out for October 2022. You can see the full report >> here <<. Main points below. Any thoughts, send them across ASAP as this story is BREAKING.

• In October 2022, the public sector spent more than it received in taxes and other income, requiring it to borrow (public sector net borrowing, PSNB ex) £13.5 billion, which was £4.4 billion more than in October 2021 and the fourth highest October borrowing since monthly records began in 1993.
• Public sector total expenditure was £91.2 billion in October 2022; of this, central government current (or day-to-day) spending was £76.8 billion, £6.5 billion more than in October 2021.
• This month we have recorded the first indemnity payment from HM Treasury to the Bank of England Asset Purchase Facility Fund and the first payments under the government's energy support schemes to households and to domestic energy suppliers.
• Public sector receipts were £77.6 billion in October 2022; of this, central government tax receipts were £51.7 billion, £2.5 billion more than in October 2021.
• PSNB ex was £84.4 billion in the financial year to October 2022; this was £21.7 billion less than in the same period last year, but £35.6 billion more than in the financial year to October 2019, and is the fifth highest financial year to October borrowing since monthly records began in 1993.
• Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was £8.6 billion in October 2022, which was £6.0 billion more than in October 2021; this brought the total to £51.7 billion for the financial year to October 2022.
• Public sector net debt excluding public sector banks (PSND ex) was £2,459.9 billion at the end of October 2022, or around 97.5% of gross domestic product (GDP), which was an increase of £148.3 billion, or a decrease of 0.5 percentage points of GDP, compared with October 2021.
• Public sector net debt excluding public sector banks and the Bank of England (PSND ex BoE) was £2,150.5 billion at the end of October 2022, or around 85.2% of GDP, which was an increase of £135.4 billion, but a reduction of 0.2 percentage points of GDP, compared with October 2021.