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PUBLIC SECTOR BORROWING REQUIREMENT JUNE 1994

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Provisional estimates of the public sector borrowing requirement (PSBR) show that PSBR in June 1994 was£2.9b and P...
Provisional estimates of the public sector borrowing requirement (PSBR) show that PSBR in June 1994 was £2.9b and PSBR for the first three months of 1994-5 was £11.4b compared with £13.4b in the same period last year.

The local authorities borrowing requirement (LABR) is provisionally estimated to have been minus £0.4 billion in June (ie. a net repayment). It compares with a net repayment of £0.6b in June 1993. The LABR was minus £0.4b in the first three months of 1994-5, compared with a net repayment of £0.1b in the same period last year.

PSBR excluding privatisation proceeds was £3.0b in June and £11.9b in the first three months of 1994-5 compared with £14.9b in the same period last year.

Privatisation proceeds in June were £0.2b due to receipts from the second call on Northern Ireland Electricity shares.

The central govemment own account borrowing requirement (CGBR(O)) was £3.5b in June and £11.9 b for the first three months of 1994-5 compared with £13.0b for the same period in 1993-4.

Excluding privatisation proceeds, CGBR(O) was £3.7b in June and £12.5b for the first three months of 1994-5, compared with £14.6b in the same period last year, a decrease of £2.1b.

Total cash receipts were £17.1b in June and £50.5b for the first three months of 1994-5, an increase of 4lh per cent compared with £48.4b in the same period of 1993-4.

In the first three months of 1994-5 receipts from Inland Revenue were £17.3b (9 per cent higher than last year) and receipts from Customs and Excise were £17.1b (7 per cent higher).

Social Security contributions were £10.5b for April to June (6l/2 per cent higher than during this time last year).

Interest and dividends were £1.4b in the first three months of 1994 5. Other receipts, including national non-domestic rates, were £4.2b in the first three months of 1994-5.

Total cash outlays were £20.6b in June and £62.4b in the first three months of 1994-5, an increase of 1lh per cent compared with £61.4b in 1993-4.

Net departmental outlays (excluding on-lending to local authorities and public corporations) in June were £19.9b. In the first three months of 1994-5 net departmental outlays were £58.9b, a decrease of 1l/2 per cent on the same period last year.

Interest payments were £4.1b in the first three months of 1994-5.

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