Results

NS&I has today published its unaudited quarterly results for the third quarter (October to December 2018) of the financial year 2018-19. NS&I delivered £3.3 billion of Net Financing in Q3 2018-19, giving a year-to-date total of £8.9 billion.

NS&I today announced that it is increasing interest rates across the following variable rate products from 1 October 2018.

The return to sale of Guaranteed Growth Bonds and Guaranteed Income Bonds was welcomed by savers, but it was just one of several positive developments this year.

Delivering cost-effective debt financing to the Government remains NS&I’s core objective. At the March 2017 Budget, our Net Financing target for 2017–18 was set at £13 billion (in a range of £10 billion to £16 billion).

Tax-Free Childcare is a new government policy led by HM Revenue and Customs (HMRC), which offers financial support for childcare for working parents. Thirty hours free childcare is a Department for Education (DfE) policy and an extension for working families of the existing 15 hours free childcare for three and four year olds in England.

Think Ahead has been a successful strategy. Since the start of 2014–15, we have delivered more than £50 billion in Net Financing for the Government; and cumulative savings of more than £780 million for taxpayers, as shown by the Value Indicator.

2017–18 has been a very successful year for NS&I. The organisation met all of its performance targets and raised £9.8 billion in Net Financing for the Government (against a final target of £8 billion in a range of £5 billion to £11 billion).