United Kingdom Government Budget Value

Last Release

Feb 28, 2025

Actual

-10,710

Units In

GBP Million

13,321

Frequency

Monthly

Next Release

Apr 23, 2025

Time to Release

1 Months 0 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
15,041 Jan 2024	-51,502 May 2020	-6,236.75 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

Public sector net borrowing, excluding public sector banks, in the UK rose slightly to £10.7 billion in February 2025 from £10.6 billion a year earlier, exceeding the expected £6.6 billion. Total public sector spending increased by £3.8 billion year-on-year, driven by higher departmental spending on goods, services, and local government operations. Meanwhile, total receipts rose by £3.7 billion, boosted by higher income and corporation tax revenues. For the financial year to February 2025, borrowing reached £132.2 billion—£14.7 billion higher than the previous year and £20.4 billion above the OBR’s £111.8 billion forecast. This was the third highest FY to February borrowing since monthly records began in 1993.