UK public sector net borrowing (excluding public sector banks) was £1.8 billion in July 2026, higher than the £1.1 billion recorded in the same month a year earlier and compared with market expectations for no change. Public sector spending increased by £5.6 billion year-on-year to £115.3 billion, as higher inflation pushed up the cost of welfare, debt interest, wages and government procurement. Receipts rose by £4.8 billion to £113.5 billion, mainly due to rising self-assessment tax receipts, which reached £17.1 billion, the highest for any July on record. Borrowing in the financial year to July 2026 totaled £56.7 billion, £6.0 billion, or 9.6%, lower than in the same period a year earlier but £2.3 billion above the OBR’s forecast. This marked the 12th-lowest April-to-July borrowing total since comparable monthly records began in 1993. Public sector net debt stood at 94.1% of GDP, 0.8 percentage points lower than a year earlier but still at levels last seen in the early 1960s. source: Office for National Statistics

The United Kingdom recorded a government budget deficit of 1800 GBP Million in July of 2026. Government Budget Value in the United Kingdom averaged -6494.04 GBP Million from 1993 until 2026, reaching an all time high of 32289.00 GBP Million in January of 2026 and a record low of -51127.00 GBP Million in May of 2020. This page provides - United Kingdom Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Public Sector Net Borrowing Ex Banks - data, historical chart, forecasts and calendar of releases - was last updated on August of 2026.

The United Kingdom recorded a government budget deficit of 1800 GBP Million in July of 2026. Government Budget Value in the United Kingdom is expected to be -13200.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Public Sector Net Borrowing Ex Banks is projected to trend around -13900.00 GBP Million in 2027 and -11200.00 GBP Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-21 06:00 AM
Public Sector Net Borrowing Ex Banks
Jun £-16B £-23.3B £-19.8B £-17.5B
2026-08-21 06:00 AM
Public Sector Net Borrowing Ex Banks
Jul £-1.8B £-12.8B £0B £-0.6B
2026-09-22 06:00 AM
Public Sector Net Borrowing Ex Banks
Aug £-1.8B


Related Last Previous Unit Reference
Fiscal Expenditure 115332.00 116114.00 GBP Million Jul 2026
Public Sector Net Borrowing Ex Banks -1800.00 -12784.00 GBP Million Jul 2026
Government Debt 2984.90 2994.80 GBP Billion Jul 2026
Government Revenues 113532.00 103330.00 GBP Million Jul 2026
Government Spending 150653.00 151058.00 GBP Million Jun 2026
Interest Payments on Government Debt 7705.00 11769.00 GBP Million Jul 2026
Public Sector Net Borrowing -1800.00 -12784.00 GBP Million Jul 2026
Public Sector Net Debt to GDP 94.10 94.60 percent of GDP Jul 2026
Tax Revenue 81426.00 69992.00 GBP Million Jul 2026


United Kingdom Public Sector Net Borrowing Ex Banks
In the UK, public sector net borrowing excluding public sector banks (PSNB ex) measures the gap between revenue raised (current receipts) and total spending. Total spending refers to current expenditure plus net investment (capital spending less capital receipts). Public sector net borrowing (PSNB) is often referred to by commentators as “the deficit”.
Actual Previous Highest Lowest Dates Unit Frequency
-1800.00 -12784.00 32289.00 -51127.00 1993 - 2026 GBP Million Monthly
Current Prices, NSA

News Stream
UK Public Sector Borrowing Unexpectedly Rises in July
UK public sector net borrowing (excluding public sector banks) was £1.8 billion in July 2026, higher than the £1.1 billion recorded in the same month a year earlier and compared with market expectations for no change. Public sector spending increased by £5.6 billion year-on-year to £115.3 billion, as higher inflation pushed up the cost of welfare, debt interest, wages and government procurement. Receipts rose by £4.8 billion to £113.5 billion, mainly due to rising self-assessment tax receipts, which reached £17.1 billion, the highest for any July on record. Borrowing in the financial year to July 2026 totaled £56.7 billion, £6.0 billion, or 9.6%, lower than in the same period a year earlier but £2.3 billion above the OBR’s forecast. This marked the 12th-lowest April-to-July borrowing total since comparable monthly records began in 1993. Public sector net debt stood at 94.1% of GDP, 0.8 percentage points lower than a year earlier but still at levels last seen in the early 1960s.
2026-08-21
UK Public Borrowing Lower Than Expected
UK public sector net borrowing (excluding public sector banks) recorded £16.0 billion in June 2026, a third lower than £23.9 billion in the same month last year and below market expectations of £19.8 billion. In the financial year through June 2026, public sector net borrowing stood at £57.6 billion, £3.7 billion lower than in the same period last year but £2.7 billion above the OBR’s March forecast, marking the tenth-highest April-to-June borrowing since comparable records began in 1993. Central government receipts rose to £95.0 billion, up £5.2 billion from a year earlier, supported by strong growth in income-related taxes and Value Added Tax receipts. Meanwhile, central government expenditure eased to £111.4 billion from £112.9 billion, largely reflecting a £5.3 billion decline in debt interest payments to £11.8 billion, although they remained the fourth-highest June on record. Public debt remained close to 95% of GDP, near its highest level since the early 1960s.
2026-07-21
UK Public Borrowing Highest for Any May in 6 years
UK public sector net borrowing (excluding public sector banks) rose to £23.3 billion in May 2026 from £17.9 billion last year, above market expectations of £18.5 billion. This was the second-highest borrowing for any May on record, behind that of 2020, indicating a tight fiscal situation. Public sector spending increased by £9.1 billion year-on-year to £118.0 billion, driven by rising costs of debt interest payments, public service delivery, investment, and benefits. Central government debt interest costs were the highest ever recorded for the month of May. Public sector receipts rose by £3.7 billion to £94.8 billion, supported by higher tax receipts. Public sector net debt excluding public sector banks was equivalent to 95.1% of GDP at the end of May, up 0.4 ppts from a year ago. Borrowing in the FY to May was £46.3 billion, up £8.9 billion from the same period in 2025 and £7.7 billion more than the OBR’s forecast in March before the full impact of the Middle East war were known.
2026-06-19