UK public finances suffer worst six months on record

UK public finances suffered their worst 6 months on record between April and September.

Public sector net borrowing (PSNB) came in at £14.812 bln compared to median forecast of £15.5 bln, the worst September read on record. That took the year to date total to £77.292 bln, the highest ever for the first six months of a financial year.

Public sector net cash requirement (PSNCR) meanwhile came in at 19.443 bln, the highest deficit for a month of September on record and taking the total deficit since April to £76.179 bln, also the worst on record for that period.