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Public finances indicator

Public sector net debt excluding public sector banks in cash terms

Net debt in current-price £ billions, not seasonally adjusted

Verified primary source
Current figure2,984.9 £ billion
Previous figure2,994.8 £ billion
Change-9.9 £ billion
Reporting period2026 JUL

Long-term trend

The displayed series runs from 2024 AUG (2,758.7 £ billion) to 2026 JUL (2,984.9 £ billion). This is descriptive and does not attribute causation.

Accessible data table
Public sector net debt excluding public sector banks in cash terms recent observations
PeriodValue
2024 AUG2,758.7 £ billion
2024 SEP2,757.7 £ billion
2024 OCT2,780.8 £ billion
2024 NOV2,815.6 £ billion
2024 DEC2,815.4 £ billion
2025 JAN2,774.4 £ billion
2025 FEB2,794.9 £ billion
2025 MAR2,804.9 £ billion
2025 APR2,824.8 £ billion
2025 MAY2,867.5 £ billion
2025 JUN2,867.6 £ billion
2025 JUL2,889 £ billion
2025 AUG2,906.8 £ billion
2025 SEP2,913.4 £ billion
2025 OCT2,896.9 £ billion
2025 NOV2,927 £ billion
2025 DEC2,925.5 £ billion
2026 JAN2,871.6 £ billion
2026 FEB2,883.2 £ billion
2026 MAR2,918.4 £ billion
2026 APR2,940.7 £ billion
2026 MAY2,976 £ billion
2026 JUN2,994.8 £ billion
2026 JUL2,984.9 £ billion

Insight

FactWhat the data show. Public sector net debt excluding public sector banks in cash terms was 2,984.9 £ billion in 2026 JUL.

CalculationWhat has changed. The change from 2026 JUN is -9.9 £ billion.

ComparisonHow it compares. Comparison awaiting period-aligned review. The year-earlier value was 2,889 £ billion.

InterpretationWhy it may matter. This measure provides context for living standards, public services or the public finances, but should be read with related measures.

LimitationImportant limitations. The latest estimate is provisional and can be revised as balance-sheet data are updated.

Policy optionsPossible evidence-based responses. No option is published until supporting and questioning evidence, distributional effects, cost, risks, confidence and success measures complete editorial review. Options are not instructions or endorsements.

MeasurementHow progress could be measured. Continue the same monthly series, record revisions and compare like-for-like reporting periods.