UK public sector net borrowing (excluding public sector banks) widened to £24.3 billion in April 2026 from £19.5 billion a year earlier, above market expectations of £20.9 billion. It was the second-highest April borrowing on record, underlining pressure on the public finances. The reading contrasts with March forecasts that borrowing would fall to 3.6% of GDP in the 2026/27 tax year, its lowest level since before the COVID-19 era. However, the war involving Iran has increased the risk of an economic slowdown, threatening tax revenues while adding pressure on Chancellor Rachel Reeves to support households and businesses facing higher energy costs. Public sector spending rose by £7.6 billion, driven by higher welfare costs, increased investment, public service spending, and record April debt interest payments. Meanwhile, public sector receipts increased by £2.7 billion. Public sector net debt stood at 94.2% of GDP at the end of April, up 0.5 percentage points from a year earlier. source: Office for National Statistics

The United Kingdom recorded a government budget deficit of 24343 GBP Million in April of 2026. Government Budget Value in the United Kingdom averaged -6459.55 GBP Million from 1993 until 2026, reaching an all time high of 33129.00 GBP Million in January of 2026 and a record low of -51126.00 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 June of 2026.

The United Kingdom recorded a government budget deficit of 24343 GBP Million in April of 2026. Government Budget Value in the United Kingdom is expected to be -12500.00 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
2026-04-23 06:00 AM
Public Sector Net Borrowing Ex Banks
Mar £-12.6B £-12.8B £-10.4B £-15.0B
2026-05-22 06:00 AM
Public Sector Net Borrowing Ex Banks
Apr £-24.3B £-11.5B £-20.9B £-16.5B
2026-06-19 06:00 AM
Public Sector Net Borrowing Ex Banks
May £-24.3B £-14.0B


Related Last Previous Unit Reference
Fiscal Expenditure 119121.00 123775.00 GBP Million Apr 2026
Public Sector Net Borrowing Ex Banks -24343.00 -11483.00 GBP Million Apr 2026
Government Debt 2943.00 2917.20 GBP Billion Apr 2026
Government Revenues 94778.00 112292.00 GBP Million Apr 2026
Government Spending 149462.00 148909.00 GBP Million Mar 2026
Interest Payments on Government Debt 10329.00 3210.00 GBP Million Apr 2026
Public Sector Net Borrowing -24343.00 -11483.00 GBP Million Apr 2026
Public Sector Net Debt to GDP 94.20 93.70 percent of GDP Apr 2026
Tax Revenue 64188.00 75253.00 GBP Million Apr 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
-24343.00 -11483.00 33129.00 -51126.00 1993 - 2026 GBP Million Monthly
Current Prices, NSA

News Stream
UK Public Borrowing Above Expectations
UK public sector net borrowing (excluding public sector banks) widened to £24.3 billion in April 2026 from £19.5 billion a year earlier, above market expectations of £20.9 billion. It was the second-highest April borrowing on record, underlining pressure on the public finances. The reading contrasts with March forecasts that borrowing would fall to 3.6% of GDP in the 2026/27 tax year, its lowest level since before the COVID-19 era. However, the war involving Iran has increased the risk of an economic slowdown, threatening tax revenues while adding pressure on Chancellor Rachel Reeves to support households and businesses facing higher energy costs. Public sector spending rose by £7.6 billion, driven by higher welfare costs, increased investment, public service spending, and record April debt interest payments. Meanwhile, public sector receipts increased by £2.7 billion. Public sector net debt stood at 94.2% of GDP at the end of April, up 0.5 percentage points from a year earlier.
2026-05-22
UK Public Borrowing Narrows in March
UK public sector net borrowing (excluding public sector banks) narrowed to £12.6 billion in March 2026 from £14.0 billion in the same month last year, but remained above expectations of £10.4 billion. In the financial year ending March 2026, public sector net borrowing stood at £132.0 billion, £19.8 billion lower than in FYE March 2025 and £0.7 billion below the £132.7 billion forecast by the OBR, marking the lowest level in three years. Total public sector receipts increased to £1,230.8 billion, rising by £92.1 billion from a year earlier, supported by a £87.7 billion (9.1%) jump in tax revenues and National Insurance contributions. Meanwhile, public sector spending rose to £1,362.8 billion, up £72.2 billion, driven by higher costs for public services, benefits, and debt interest. Public sector net debt stood at 93.8% of GDP at the end of March, up 0.6 percentage points from the previous year.
2026-04-23
UK Public Borrowing Above Forecasts
UK public sector net borrowing (excluding public sector banks) rose to £14.3 billion in February 2026 from £12.1 billion in the same month last year, exceeding expectations of £8.5 billion. This marked the second-highest February borrowing since records began in 1993, behind 2021. Public sector expenditure increased by £10.8 billion year-on-year, driven by higher costs for public services, benefits, debt interest, and investment. Central government debt interest costs reached a record for the month of February. Meanwhile, total public sector receipts rose by £8.6 billion, partly reflecting late payments of self-assessed taxes typically due on 31 January but recorded in February. For the financial year to February, borrowing stood at £125.9 billion, £11.9 billion or 8.7% lower than in the same 11-month period a year earlier. However, it remained the fourth-highest April-to-February borrowing on record and slightly below the £127.8 billion forecast by the OBR.
2026-03-20