Public sector net borrowing excluding public sector banks in the UK was £13.5 billion in October of 2022, £4.4 billion more than in October 2021 and the fourth highest October borrowing since monthly records began in 1993. Total expenditure rose by £6.5 billion to £91.2 billion, as it included the first indemnity payment from Treasury to the Bank of England Asset Purchase Facility Fund and the first payments under the government's energy support schemes to households and to domestic energy suppliers. However, the costs of the energy bills relief scheme for businesses was not included in the October’s estimate due to a lack of data so far. That is one of the reasons why figures came below market forecasts of a £22 billion deficit, and will probably lead to a revision next month. Meanwhile, total receipts were £77.6 billion, £0.68 billion lower than a year earlier. Tax receipts were £51.7 billion, £2.5 billion more than in October 2021. source: Office for National Statistics

Government Budget Value in the United Kingdom averaged -5946.60 GBP Million from 1993 until 2022, reaching an all time high of 11945.00 GBP Million in January of 2022 and a record low of -51451.00 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 November of 2022.

Government Budget Value in the United Kingdom is expected to be -23300.00 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 -7500.00 GBP Million in 2023 and -5700.00 GBP Million in 2024, according to our econometric models.

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United Kingdom Public Sector Net Borrowing Ex Banks



Calendar GMT Actual Previous Consensus TEForecast
2022-10-21 06:00 AM Sep £-20B £-9.34B £-17.1B £ -16.2B
2022-11-22 07:00 AM Oct £-13.5B £-17.8B £-22B £ -17.9B
2022-12-21 07:00 AM Nov £-13.5B £ -9.3B


Related Last Previous Unit Reference
Government Budget Value -13549.00 -17756.00 GBP Million Oct 2022
Government Spending 112836.00 112261.00 GBP Million Sep 2022
Government Debt 2459.90 2446.30 GBP Billion Oct 2022
Tax Revenue 51668.00 52452.00 GBP Million Oct 2022
Fiscal Expenditure 76785.00 78862.00 GBP Million Oct 2022
Government Revenues 70167.00 72548.00 GBP Million Oct 2022

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
-13549.00 -17756.00 11945.00 -51451.00 1993 - 2022 GBP Million Monthly
Current Prices, NSA

News Stream
UK Budget Gap Below Forecasts
Public sector net borrowing excluding public sector banks in the UK was £13.5 billion in October of 2022, £4.4 billion more than in October 2021 and the fourth highest October borrowing since monthly records began in 1993. Total expenditure rose by £6.5 billion to £91.2 billion, as it included the first indemnity payment from Treasury to the Bank of England Asset Purchase Facility Fund and the first payments under the government's energy support schemes to households and to domestic energy suppliers. However, the costs of the energy bills relief scheme for businesses was not included in the October’s estimate due to a lack of data so far. That is one of the reasons why figures came below market forecasts of a £22 billion deficit, and will probably lead to a revision next month. Meanwhile, total receipts were £77.6 billion, £0.68 billion lower than a year earlier. Tax receipts were £51.7 billion, £2.5 billion more than in October 2021.
2022-11-22
UK September Budget Gap Larger than Expected
Public sector net borrowing excluding public sector banks in the UK was £20 billion in September of 2022, the second highest September borrowing since monthly records began in 1993, and £2.2 billion more than in September of 2021. Figures came above market forecasts of a £17.1 billion deficit and the £14.8 billion forecast by the Office for Budget Responsibility. Government expenditure was £79.3 billion, £5.8 billion more than in September 2021, largely reflecting a £2.5 billion increase in debt interest payable, and a £4.4 billion rise in net social benefit payments being partially offset by a £1.4 billion fall in subsidy payments. Debt interest payable was £7.7 billion, £2.5 billion more than in September 2021 and the highest September figure since monthly records began in April 1997, mainly due to the effect of Retail Prices Index changes on index-linked gilts. Government receipts were £71.2 billion, £7.0 billion more than in September 2021; of this, tax receipts were £52.0 billion.
2022-10-21
UK August Budget Gap Above Forecasts
Public sector net borrowing excluding public sector banks in the UK was £11.8 billion in August of 2022, £2.6 billion less than in July 2021, but £6.5 billion more than in pre-coronavirus August 2019. Figures compare with market forecasts of an £8.45 billion deficit. Central government expenditure of £73.2 billion was largely unchanged compared with August 2021, with a £1.5 billion increase in debt interest payable, a £1.7 billion rise in payment for goods and services and a £1.1 billion hike in net social benefit payments being offset by reductions elsewhere, including a £3.4 billion fall in subsidy payments. Debt interest payable was £8.2 billion, the highest August figure since monthly records began in April 1997, mainly due to the effect of Retail Prices Index changes on index-linked gilts. Meanwhile, government receipts were £69.6 billion, £5.6 billion more than a year earlier; of this, tax receipts were £51.4 billion, an increase of £3.9 billion compared with August 2021.
2022-09-21