FTSE 100 Live May 23: Sovereign debt higher than expected
Public borrowing is higher than expected at £25.6 billion
Public sector net borrowing was £25.6 billion in April, well above the expected £19.1 billion.
In addition to higher benefit payments and interest on debt, energy subsidies continued to be a key factor in the high level of borrowing.
After borrowing for the full year 2022-23 came in lower than expected, raising hopes for fall tax cuts, the higher-than-expected figure could make Jeremy Hunt more cautious.
The reading was the second highest reading for April since records began in 1993.
Public sector net debt is now £2,536.9 billion.
https://www.standard.co.uk/business/ftse-100-live-23-may-zoom-earnings-beat-estimates-public-sector-net-debt-pound-dollar-stocks-shares-palantir-b1082974.html FTSE 100 Live May 23: Sovereign debt higher than expected