Michael Burton 22 November 2016

Government borrowing falls ahead of Autumn Statement

Government borrowing fell by £1.6bn to £4.8bn last month compared to October 2015, thanks to better than expected tax revenues.

The figures - which are good news in advance of tomorrow's Autumn Statement - showed £2bn covered revenue spend and the rest infrastructure.

However, the deficit is still 4% of GDP while total debt stands at 83.8% of GDP.

The amount borrowed by the public sector has been steadily falling since 2010.

In the financial year ending March 2016 the public sector borrowed £76bn. This was £20bn lower than in the previous financial year and less than half of that in the financial year ending March 2010 - both in terms of money and percentage of GDP.

Local government net borrowing for the financial year-to-date (April to October 2016) was estimated to be £0.9bn, a £2.6bn increase in local government net borrowing on the same period in the previous financial year.

This increase was largely due to decreases in government grant funding, partially offset by spending cuts.

SIGN UP
For your free daily news bulletin
Highways jobs

Interim Head of Fostering

Tile Hill
Negotiable day rate
We are working with a local authority client in London who is looking for an Interim Head of Fostering, the local authority was last inspected as “... London (Central), London (Greater)
Recuriter: Tile Hill

Interim Head of Children in Care and Care Leavers

Tile Hill
Negotiable day rate
We are working with a local authority client in London who is looking for an Interim Head of Children in Care and Care Leavers, the local authority... London (Central), London (Greater)
Recuriter: Tile Hill

Head of Regeneration and Economy

City of York Council
£59,593 - £68,094
York is a wonderful place to live and work and it is quite rightly famous across the globe. York, North Yorkshire / Hybrid
Recuriter: City of York Council

Clinical Lead, North Essex

Essex County Council
Negotiable
Clinical Lead, North EssexPermanent, Full TimeUp to £57,869 per annumLocation
Recuriter: Essex County Council

Assistant Director Legal,&Governance/Monitoring Officer

Rochdale BC
£70,340 - £81,589
The Assistant Director role has breadth of responsibility beyond legal services incorporating Constitutional and Democratic Services Rochdale, Greater Manchester
Recuriter: Rochdale BC

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.