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PUBLIC SECTOR BORROWING REQUIREMENT - NOVEMBER 1993

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Provisional estimates of the public sector borrowing requirement (PSBR) show PSBR in November 1993 was£3.1 billion...
Provisional estimates of the public sector borrowing requirement (PSBR) show PSBR in November 1993 was £3.1 billion and PSBR for the first eight months of 1993-4 was £30.0 billion compared with £22.0 billion in the same period last year.

There were no privatisation proceeds in November. PSBR excluding privatisation proceeds was £3.1 billion in November and £33.5 billion in the first eight months of 1993-4 compared with £27.0 billion in the same period last year.

Central Government

The central government own account borrowing requirement (CGBR(O)) was £4.4 billion in November and £32.7 billion for the first eight months of the 1993-4 compared with £29.4 billion for the same period in 1992-3.

Excluding privatisation proceeds, it was £4.4 billion in November and £36.2 billion for the first eight months of 1993-4, compared with £34.3 billion in the same period last year, an increase of £1.9 billion.

Total cash receipts were £17.1 billion in November and £133.8 billion for the first eight months of 1993-4, an increase of 3 per cent compared with £130.0 billion in the same period of 1992- 3. In the first eight months of 1993-4 receipts from Inland Revenue were £47.3 billion (the same as a year earlier) and receipts from Customs and Excise were £43.7 billion (2.5 per cent higher).

Local authorities

The local authorities borrowing requirement (LABR) is provisionally estimated to have been minus £1.2 billion in November (ie. a net repayment). This is a higher than usual repayment for November and was reflected in a large increase in local authority bank and building society deposits. It compares with a net repayment in November 1992 of £0.6 billion. The LABR was minus £3.0 billion in the first eight months of 1993-4, compared with minus £7.2 billion in the same period last year including a commutation grant in October 1992 of £5.1 billion from Central Government.

Public corporations

The public corporations borrowing requirement (PCBR) is provisionally estimated to have been negligible in November and £0.3 billion in the first eight months of 1993-4, compared with minus £0.2 billion (ie. a net repayment) in the same period last year.

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