Public finances indicator
Public sector net borrowing excluding public sector banks
Borrowing is the gap between public-sector spending and income. A positive figure is a deficit and is shown as money borrowed; a genuine negative figure is a surplus.
Verified primary sourceLong-term trend
The displayed series runs from 2024 AUG (£14,867m) to 2026 JUL (£1,800m). This is descriptive and does not attribute causation.
Accessible data table
| Period | Value |
|---|---|
| 2024 AUG | £14,867m |
| 2024 SEP | £18,773m |
| 2024 OCT | £19,372m |
| 2024 NOV | £13,531m |
| 2024 DEC | £18,667m |
| 2025 JAN | £-14,672m |
| 2025 FEB | £11,936m |
| 2025 MAR | £13,763m |
| 2025 APR | £19,642m |
| 2025 MAY | £17,978m |
| 2025 JUN | £24,003m |
| 2025 JUL | £1,067m |
| 2025 AUG | £14,939m |
| 2025 SEP | £22,190m |
| 2025 OCT | £15,790m |
| 2025 NOV | £9,544m |
| 2025 DEC | £12,576m |
| 2026 JAN | £-32,289m |
| 2026 FEB | £12,428m |
| 2026 MAR | £11,955m |
| 2026 APR | £23,127m |
| 2026 MAY | £18,985m |
| 2026 JUN | £12,784m |
| 2026 JUL | £1,800m |
Insight
FactWhat the data show. Public sector net borrowing excluding public sector banks was £1,800m in 2026 JUL.
CalculationWhat has changed. The change from 2026 JUN is -10984 £ million.
ComparisonHow it compares. Comparison awaiting period-aligned review. The year-earlier value was £1,067m.
InterpretationWhy it may matter. Borrowing adds to financing needs and, over time, influences debt and debt-interest costs. Monthly figures are volatile, so the financial-year-to-date comparison provides important context.
LimitationImportant limitations. Recent monthly and financial-year-to-date estimates are provisional and sensitive to classification and accrual revisions. Comparing one month with the previous month can be misleading because tax receipts and spending have strong seasonal patterns. Financial-year-to-date totals use April to the latest reporting month. OBR comparisons use the corresponding monthly forecast profile.
MeasurementHow progress could be measured. Continue the same monthly series, record revisions and compare like-for-like reporting periods.