United Kingdom Government Budget Value

Last Release

Oct 31, 2025

Actual

-17,434

Units In

GBP Million

-19,894

Frequency

Monthly

Next Release

Dec 19, 2025

Time to Release

26 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
15,005 Jan 2025	-51,122 May 2020	-6,434.43 GBP Million	1993-2025	Office for National Statistics

In the UK, public sector net borrowing excluding public sector banks (PSNB ex) measures the gap between revenue raised (current receipts) and total spending (current expenditure plus net investment (capital spending less capital receipts)). Public sector net borrowing (PSNB) is often referred to by commentators as “the deficit”.

Latest Updates

UK public sector net borrowing (excluding public sector banks) narrowed to £17.4 billion in October 2025 from £19.3 billion a year earlier, but above market expectations of £15.2 billion. This marked the third-highest October deficit on record. Total public sector spending rose by £4.5 billion, driven by higher costs of providing public services and benefits, partially offset by a decrease in interest payable on central government debt. Meanwhile, total receipts increased by £6.3 billion, supported by higher central government tax revenues and National Insurance contributions. For the financial year up to October, borrowing reached £116.8 billion, an increase of £9.0 billion (8.4%) compared with the same seven-month period in 2024. This represents the second-highest April-to-October borrowing on record, surpassed only by 2020. Public sector net debt excluding public sector banks was at 94.5% of GDP.