Yesterday the Office for National Statistics published data for the tax year 2017-2018. It showed the UK government borrowed £24.7 billion, £17.2 billion less than it did last year, and a lot less than the original estimate made in November 2017 of £39.5 billion. The figure would have been slightly lower, and closer to chancellor Hammond’s spring estimate, had it not been for spending on schools and the NHS in March 2018. Total public sector debt outstanding (excluding rescued banks) is running at £1.8 trillion. Talking of which, Fast FT reports this morning that Ross McEwan, CEO of RBS, is to stand down within the next 12 months.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis