In previous years, the Treasury's "reportable losses" have ranged between zero and a few million pounds.
This 855 million-euro payment cost Britain 764 million pounds on a day when 1 pound would buy only 1.12 euros.
Back in April 2022, when the EU updated Britain's payment schedule for June through September, it assumed an exchange rate of around 1.18 euros per pound - equating to monthly payments of 719 million pounds rather than 764 million pounds.
Still, that small net gain represents a sharp drop from March 2022 when it stood at 91.2 million pounds - with the payment on Sept. 30 a conspicuous loss-maker.
Economists put the broader costs of the mini-budget episode - stemming from loss of investor confidence and higher market interest rates - in the billions of pounds.
Persons:
Dado Ruvic, Liz Truss's, James Murray, Kwasi Kwarteng, Mark Potter
Organizations:
REUTERS, European Union, Britain, Treasury, Labour Party, Reuters, Thomson