UK Budget Deficit Widens In September

The UK budget deficit for September increased for the first time in five years, data from the Office for National Statistics showed Tuesday.

Public sector net borrowing excluding banks increased by GBP 0.6 billion from last year to GBP 9.4 billion in September. This was the first September year-on-year increase for five years.

Borrowing in the current financial year-to-date was GBP 40.3 billion, which was GBP 7.2 billion more than in the same period last year.

At the end of September, public sector net debt excluding banks came in at GBP 1.79 trillion or 80.3 percent of gross domestic product.

In the current financial year-to-date, central government net cash requirement was GBP 32.9 billion. This was GBP 13.5 billion more than in the same period in the previous year.

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