United Kingdom Government Budget Value

Last Release

Sep 30, 2025

Actual

-20,246

Units In

GBP Million

-15,318

Frequency

Monthly

Next Release

Nov 21, 2025

Time to Release

29 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
14,985 Jan 2025	-51,122 May 2020	-6,406.53 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) widened to £20.2 billion in September 2025 from £18.6 billion in the same month last year, but slightly below market expectations of £20.5 billion. This was the highest September borrowing since 2020. Total public sector spending increased by £8.9 billion, driven by higher costs of providing public services, benefits, and debt interest. Notably, interest payments on central government debt were higher than in any previous September on record. Meanwhile, total receipts rose by £7.3 billion, reflecting higher revenue from central government taxes and national insurance contributions. Borrowing for the financial year to September reached £99.8 billion, £7.2 billion (7.8%) above the OBR’s March forecast of £92.6 billion. It was also the second-highest year-to-date borrowing since records began in 1993, following the pandemic period. Public sector net debt, excluding public sector banks, stood at 95.3% of GDP.