Press release

NS&I 2007-08 QUARTER 2 FINANCIAL REPORT

30 October 2007

Below are NS&I’s latest quarterly figures, for the second quarter of the financial year 2007-08.

Highlights 

Quarterly figures

All figures are in £ million (rounded up to the nearest whole number), 2007-08 Q2 figures only are  unaudited and subject to change due to late transaction processing (evidence of identity), cancellation and any accounting adjustments

* Capitalised and accrued interest

** Net financing is NS&I’s contribution to government funding

NS&I reports quarterly on gross inflows and outflows, net financing and total stock.  Each quarter, NS&I will issue these unaudited figures and will also continue to publish its annual report and audited accounts for each financial year. 

ENDS

Notes to editors

1. NS&I’s performance is measured by Value Add.  The government raises money in two main ways: through the sale of gilts and Treasury bills and through NS&I.  Value Add is an assessment of how cost-effective NS&I is at raising finance for the government and the difference between the cost of running NS&I and the cost of raising finance through the sale of gilts and Treasury bills.  The Value Add figure is important because it represents cost savings to the UK taxpayer.

2. NS&I’s performance is also measured by net financing, which is the balance of sales, repayments and interest costs and is the amount of money it gives to the government to help it manage the national debt once interest, Premium Bonds prizes, matured investments and other repayments are made to customers.

3.  NS&I is one of the UK’s largest savings and investments providers, with 27 million customers, offering retail savings and investments that are 100% secure, backed by HM Treasury.  Its total balance of funds represents 16.2% of the national debt (as at July 2007).

4. NS&I was formed in 1861 and is a government department and an executive agency of the Chancellor of the Exchequer, reporting to Kitty Ussher MP, Economic Secretary to the Treasury.

Media team
NS&I has a number of spokespeople available for interviews and our experienced radio team is available via our ISDN line: 020 7602 4522.

The numbers below are for media use only. Customers wishing to contact NS&I can find details here.

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