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.


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United Kingdom Public Sector Net Borrowing

Actual Previous Highest Lowest Dates Unit Frequency
-4040.00 -4195.00 12668.00 -21052.00 1993 - 2019 GBP Million Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2019-10-22 08:30 AM Sep £-8.73B £-4.92B £-8.80B £-6.0B
2019-11-21 09:30 AM Oct £-10.51B £-7.26B £-8.60B £-7.7B
2019-12-20 09:30 AM Nov £-4.88B £-8.26B £-5.60B £-7.1B
2020-01-22 09:30 AM Dec £-4.04B £-4.20B £-4.60B £-3.8B
2020-02-21 09:30 AM Jan £-4.04B £12.1B £11.9B
2020-03-20 09:30 AM Feb £-1.0B
2020-04-23 08:30 AM Mar £-1.1B
2020-05-22 08:30 AM Apr £-10.4B


News Stream
UK Public Sector Borrows Less than Expected
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.
2020-01-22
UK Budget Gap Widens Less than Expected
Public sector net borrowing in the UK increased to GBP 4.88 billion in November 2019 from GBP 4.68 billion in the same month last year and compared with market expectations of GBP 5.60 billion. Excluding public-sector banks, the borrowing increased by GBP 0.25 billion to GBP 5.6 billion, the most in two years. Borrowing in the current financial year-to-date was GBP 50.9 billion, GBP 5.1 billion more than in the same period last year. It is the highest April-to-November borrowing for two years, though April-to-November 2018 remains the lowest in such a period for 12 years. Debt rose by GBP 39.4 billion from a year ago to GBP 1.81 trillion at the end of November, equivalent to 94.1 percent of GDP.
2019-12-20
UK Public Sector Net Borrowing Above Forecasts
Public sector net borrowing in the UK increased to GBP 10.51 billion in October 2019 from GBP 8.24 billion in the same month last year, above market expectations of GBP 8.60 billion. Excluding public-sector banks, the public sector had to borrow GBP 11.2 billion, GBP 2.3 billion more than in October 2018. It was the highest October borrowing for five years, as revenue from corporation tax posted the biggest drop in four years (-6.2 percent). Still, overall revenues were up 2.4 percent, while day-to-day government spending increased 3.1 percent, on the back of staff costs and spending on other goods and services. Public sector net debt totalled 80.4 percent of GDP in October, a decrease of 0.3 percentage points year-on-year.
2019-11-21
UK Posts Widest Budget Gap in 5 Months
The budget deficit in the UK widened to GBP 8.7 billion in September 2019 from GBP 8.2 billion in the same month of the previous year and compared with market expectations of a GBP 8.8 billion gap. It was the largest budget shortfall since April, driven by an increase in government expenditure on goods and services as well as social benefits. Meanwhile, tax receipts continued to grow robustly. Excluding state-controlled banks, the public sector net borrowing totalled 9.4 billion, GBP 0.6 billion more than in September 2018 and marking the first increase for a September month in five years. Borrowing in the current financial year-to-date was GBP 40.3 billion, up 21 percent from the same period in 2018 and was the first year-to-date borrowing rise in five years. Debt went up by GBP 27.3 billion from a year ago to GBP 1.79 trillion at the end of September, equivalent to 80.3 percent of GDP compared to 81.5 percent a year earlier.
2019-10-22

United Kingdom Public Sector Net Borrowing
In the United Kingdom, net borrowing or net lending is the difference between the net acquisition of financial assets and the net incurrence of liabilities.