Public sector net borrowing in the UK fell to GBP 4.0 billion in December 2019 from GBP 4.3 billion in the same month last year, below market expectations of GBP 4.6 billion. Excluding public sector-owned banks, the deficit was GBP 4.8 billion, GBP 0.2 billion less than in December 2018. Of this, central government borrowed GBP 4.2 billion and local government borrowed GBP 1.4 billion. The Bank of England’s contribution to net borrowing was a surplus of GBP 0.9 billion. Still, borrowing in the first nine months of the financial year came in at GBP 54.6 billion, GBP 4.0 more than in April-December 2018, as corporate tax receipts were 3.4 percent lower while other current spending was up 5 percent, a record increase that reflects a pay rise for health workers. Debt was GBP 1,819.0 billion, or 80.8 percent of GDP, an increase of GBP 35.5 billion, or a decrease of 0.9 percentage points, on December 2018.
Government Debt in the United Kingdom averaged -4353.30 GBP Million from 1993 until 2019, reaching an all time high of 12668 GBP Million in January of 2019 and a record low of -21052 GBP Million in April of 2012. This page provides the latest reported value for - United Kingdom Public Sector Net Borrowing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Office for National Statistics
Government Debt in the United Kingdom is expected to be -1100.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Debt in the United Kingdom to stand at -2460.00 in 12 months time. In the long-term, the United Kingdom Public Sector Net Borrowing is projected to trend around -2440.00 GBP Million in 2021, according to our econometric models.