Government Borrowing £14.1bn In November

Public sector net borrowing (PSNB ex) was £14.1bn in November 2014 down £1.6bn on November 2013. The figure of £14.1bn is made up of the current budget deficit of £11.6bn added to net investment of £2.5bn. The fall is mainly due to a decrease of £1.2bn in central government net borrowing. Net debt at the end of November was £1,457.2bn or 79.5% GDP.

A sub-sector breakdown of net borrowing (PSNB) shows that central government borrowing was £13.3bn. local government borrowing was £2.1bn and public non-financial corporations was -£0.2bn. The Bank of England's borrowing was -£1bn. Public financial corporations borrowing was -£0.7bn giving PSNB of £13.4bn

The public sector net cash requirement excluding public sector banks (PSNCR ex) was £8.5bn in November 2014 $4.1bn or 32.5% lower than November 2013.

Government Borrowing Increased By £0.7bn In August

Public sector net borrowing excluding public sector banks (PSNB ex) in August 2014 was £11.6bn, £0.7bn up on August 2013 according to statistical data from the ONS. The current budget deficit was £9.4bn and net investment was £2.2bn. PSND ex was £1,432.2bn, up £96.7bn compared with August 2013. Net borrowing from April to August 2014 increased £2.6bn to £45.4bn compared with the same period in 2013.

Government borrowing can be further broken down sectorally, general government accounted for £12.8bn of which central government accounted for £10.9bn and local government £1.9bn, public non-financial corporations -£0.1bn and the Bank of England -£1.1bn. Public financial corporations accounted for -£0.8bn and PSNB was £10.9bn.

Central government net cash requirement from April to August was £33.4bn up £5.6bn compared with 2013-14.

Governmemt Borrowing Down By £8.1bn

Public Sector Net Borrowing (PSNB) for the financial year 2013-14, excluding the temporary effects of financial interventions, the transfer of the Royal Mail pension plan, transfers from the Bank of England Asset Purchase Facility, was estimated to have been £107.0bn. The figure for the same period in 2012-13 was £115.1bn a difference of £8.1bn. PSNB ex was £94.9bn.

Public Sector Net Borrowing (PSNB) for May, excluding the temporary effects of financial interventions, the transfer of the Royal Mail pension plan, transfers from the Bank of England Asset Purchase Facility, was estimated to have been £13.3bn. In May 2013 borrowing was £12.6bn, a difference of £0.7bn. PSNB ex was £13.3bn. The PS current budget for May was -£11.8bn and PS net investment was £1.5bn.

The sectoral breakdown of PSNB shows that general government borrowing was £13.4bn of which central government accounted for £12.5bn, local government £0.9bn and non-financial public corporations -£0.1bn.

Central government net cash requirement for 2013-14 was £75.4bn, £29.6bn lower than in 2012-13 when it was £105bn. PSND for May was £1284.5bn or 76.1% of GDP.

Government Borrowing Down On Last Year

The Public Sector Finance statistics for March 2014 were published on 23 April 2014. In March 2014, public sector net borrowing was £6.7, £4.7bn lower compared to £11.4bn in March 2013. Over the financial year 2013-14 PSNB excluding the temporary effects of financial intervention and the impact of cash transfers from the asset purchasing facility and the Royal Mail Pension Plan transfer was £107.7bn.

Central government net cash requirement was £75.4bn, lower by £29.6bn than the £105bn in 2012-13. In March it was £22.2bn. The sale of the Lloyds Banking Group reduced the public sector net cash requirement by £4.2bn. Public sector net debt for March 2014 was £1268.7 equivalent to 75.8% GDP.

In the UK the PSNB Sectoral Breakdown consists of figures from the 4 main sub-sectors: central government, local government, non-financial public corporations and financial corporations ie public sector banking groups. The largest share of borrowing is accounted for by central government. In March 2014, the sectoral breakdown of general government borrowing of £7.1bn was as follows: central government £7.2bn, local government -£0.1bn, non-financial public corporations -£0.4bn (PSNB=£6.7bn) and public sector banking groups -£1.8bn (PSNB=£4.9).

Current budget equals current receipts minus current expenditure and in March 2014 it stood at -£79.6. Current receipts were £49.8bn 5.7% up on last March. The main increases were from VAT (£0.6bn or 5.8%) and income tax (7.8% or £1bn). PAYE varies little during the year. Other receipts were from stamp duties (£1.1bn in March and £12.6bn over financial year 2013-14).

Central government current expenditure accrued to £52.4bn, 1.3% lower than March 2013. Over the financial year accrued government expenditure was £640.2bn 1.4% up on the previous year. Net social benefit expenditure was £193.4bn and other current expenditure was £398.7bn or £6.7bn higher. In 2012-13 local authorities got almost all their funding from redistributed business rates from DCLG rather than the Revenue Support Grant. In 2013-14 local authorities retained half their business rates with the remainder redistributed through the Revenue Support Grant.

In 2012-13 central government accrued current expenditure was £631.1bn, £12bn up on 2011-12. The £12bn was composed of £10bn increase in net social benefits mostly pension benefits, £0.8bn decrease in interest payments and £23.8bn increase in other current expenditure. Net social benefits increases are largely due to the 5.2% uprating of benefits in line with the CPI.

Public Borrowing Down £4.4bn

Public borrowing for the year to date excluding the temporary effects of financial intervention and the effects of the transfers of the Royal Mail Pension Plan and the Asset Purchase Facility was £99.3bn, £4.4bn down on the same period in 2012-13

Public sector net borrowing (PSNB) in February excluding the temporary effects of financial interventions was £9.3bn including a £2.3bn transfer from the sale of 4G licenses but excluding the £2.7bn asset purchase facility transfer for the month. General government borrowing was £9.7bn of which central government borrowing was £10.4bn and local government borrowing was -£0.8bn, non-financial public corporations borrowing was -£0.3bn. The current budget was -£66.2bn for April to February 2014 and -£6.5bn for February.

Public sector net debt (PSND) for February 2014 excluding the temporary effects of financial intervention was £1246.8bn equal to 74.7% of GDP, up from £1,160.7bn and 72.5% respectively in February 2013. PSND for the purposes of fiscal policy is the total gross financial liabilities less liquid financial assets.

Central government receipts totalled £45.9bn, £0.5bn lower than last February. Central government expenditure in February was £53.8bn, £3.9bn up on last February. Net investment in February was £1.9bn, £2.3bn up on February last year when it was -£0.4bn. Central government net cash requirement for the year to date was £53.2bn down from £70.2bn for the same period in 2012-13.

Public Borrowing Down £4bn

In the financial year to date public sector net borrowing (PSNB) stands at £78.5bn compared with last year's £62.8bn or £15.6bn more than last year. If the effects of temporary financial interventions and the effects of the Royal Mail Pension Plan and the transfers from the Bank of England Asset Purchase Facility Fund are excluded PSNB was £90.7bn, £4bn lower than the same time last year.

In January 2014 PSNB was £-4.7bn (in surplus). Last year at the same time PSNB was £-6bn. Public sector net debt (PSND) in January 2014 was £1,239.5bn or 74.6% of GDP. The central government net cash requirement for the year to date was £49.7bn which is £21.9bn lower than last year when it was £71.6bn.

The current budget for the year to date was £60.1bn and public sector net investment was £18.4bn, the resulting public sector net borrowing figure is £78.5bn.

The public sector current budget (receipts minus liabilities) for January 2014 was £7.9bn and public sector net investment (PSNI) was £3.2bn so PSNB was £-4.7bn. Total central government borrowing amounted to £-4.4bn, of which central government borrowing was £-6bn and local government spending was £1.6bn. Non-financial corporations accounted for £-0.3bn. PSNB ex was £-4.7bn. Public sector banking groups also accounted for £-1.7bn giving a PSNB figure of £-6.4bn.

Goverment Borrowing Down £2.1bn

In December 2013 public sector net borrowing (excl. temporary effects of financial interventions) was £12.1bn, £2.1bn lower than December 2012.

The public sector current budget was -£9.5bn and public sector net investment was £2.5bn. Public sector net debt was £1254.3bn or 75.7% of GDP.

Borrowing by Government totalled £12.3bn with the £12.4bn borrowed by Central Government offset by negative Local Government borrowing of -£0.1bn. Non-financial Public Corporations also reported a negative borrowing figure, of -£0.2bn.

Government Borrowing £0.2bn Lower Than Last Year

The latest figures from the ONS on public sector finance suggest that in October 2013, public sector net borrowing excluding the effects of financial intervention (PSNB ex) was £8.1bn. General Government borrowing totalled £8.2bn of which central government accounted for £7.7bn and local government £0.5bn. Non-financial public corporations reported -£0.1bn of borrowing. Public sector net debt (PSND) was £1207.2 or 75.4% of annual GDP. The public sector current budget was -£5.7bn and public sector net investment (PSNI) was £2.3bn.

Government Borrowing Down £1.3bn

The key measures of the public sector finances published by the ONS show that in August 2013 public sector net borrowing was £13.2bn, £1.3bn lower than in August 2012 when it was £14.4bn. This is because the public sector current budget was -£11.2bn and public sector net investment was £1.9bn. Public sector net debt was £1,193bn or £74.6% of annual GDP.

The sectoral breakdown of public sector borrowing (PSNB) shows that in August 2013 general government borrowing was £13.8bn of which central government accounted for £12.7bn and local government £1.1bn. Non-financial public corporations accounted for -£0.6bn and gives the PSNB figure of £13.2bn.

The central government net cash requirement (CGNCR) was £9.1bn, £0.6bn up on last year. The CGNCR for the 6 months from April to August 2013 was £26.4bn, 12.6% or £3.8bn lower than in the same period the previous year.

These figures exclude the temporary effects of financial intervention.

Public Sector Finances In July

Public Sector Net Borrowing (PSNB) in July was £0.1bn, £0.9bn more than in July last year (excluding temporary effects of financial intervention). Net debt was £1,193.4bn or 74.5% of GDP. The central government net cash requirement increased by £3.9bn to £19bn, £4.9bn less than the same time last year. The current budget was £1.8bn.

Public Borrowing Up 0.6%

The ONS released the latest public sector finance figures recently and public sector net borrowing (ex. financial interventions) was £15.4bn in December 2012, 0.6bn higher than Decmber 2011 (£14.8bn). The public sector current budget deficit was £13bn, 0.5bn higher than December 2011 (£12.5bn). Public sector net borrowing was £121.6bn in 2011/12 £4.4bn lower than the £126bn the OBR expected. Public sector net debt (PSND) was £1,111.4bn euivalent to 70.7% of GDP. Net Investment was £2.4bn.

PSNB ex(excluding the effects of financial interventions) was £15.4bn because central government borrowing was £15bn, local government borrowing was £0.2bn and non-financial public corporations borrowing was £0.2bn. Public sector banking groups borrowing was -£2.2bn and PSNB was £13.2bn. The central government net cash requirement was £22bn.

Public Sector Borrowing Down 0.7%

Public sector net borrowing for September decreased by 0.7% to 12.8bn. The public sector current budget deficit was £11.2bn and public sector net investment was £1.6bn. The public sector net debt increased by £92.9bn to £1065.4bn or 67.9% of GDP. Public sector borrowing can be broken down further. General government accounts for £13.4bn of borrowing with central government borrowing increasing 0.3% to £13.8bn in September 2012 and local government borrowing falling £0.7bn to -£0.2bn. Non-financial public corporations borrowing decreased by £0.3bn to -£0.6bn. The central government net cash requirement (CGNCR) in September 2012 was £22.1bn, £1bn or 4.2% lower than September 2011. The sale of the assets of the transferred Royal Mail Pension Plan accounted for a large part of the drop on CGNCR.

Deficit £4.4bn Higher Than Last April

Provisional estimates for public sector finances from the ONS suggest that in April 2012 there was a current budget deficit of £12.4bn, £4.4bn higher than last April, net borrowing of -£16.5bn (a surplus), £25.6bn lower than April 2011, and a net debt of £1006.3bn. Public sector net investment in April was therefore -£28.9bn. These figures exclude financial interventions. Central government's share of borrowing was -£14.2bn, local government's share -£2.4bn, public corporations borrowing was £0.1bn. The public sector finances figures for April include the one-off transfer of £28bn to the Government as part of the transfer of the Royal Mail Pension Plan.

Big Increase In Government Borrowing

The provisional estimates for public sector finances published by the ONS suggest that the current budget deficit for February 2012 amounted to £11.1bn (excluding the temporary effects of financial interventions) with net borrowing (PSNB) of £15.2bn and net debt (PSND) of £995bn equivalent to 63.1% of GDP.

At £11.1bn the public sector current budget deficit is £6.7bn higher than February 2011 when it was £4.3bn. Net borrowing has increased by £6.3bn. Net debt has increased by £117.7bn from £877.3bn in February 2011 to £995bn this year.

The PSNB main components were central government with £13.1bn of borrowing, local government with £2.4bn and general government with -£0.3bn. Central government net cash requirement was £5.9bn, £2bn more than February last year.

Central Government Borrowing Down In October

Provisional estimates for public sector net borrowing put the borrowing figure for October at £6.5bn. Borrowing in the same period last year was £7.7bn. The net debt stands at £966.6bn or 62.3% of GDP which is an increase on 2010 when net debt was £836.8bn, 56.5% of GDP. The current budget was £4.5bn in deficit, £0.2bn down on the previous quarter.

Borrowing by central government actually fell by £1.2bn from £7.2bn to £6bn whereas local government borrowing increased from £0.7bn to £1.3bn.

Government Borrowing Down £1.3bn

The current budget deficit for September 2011 was £11.9bn (excluding temporary effects of financial intervention), £0.9bn lower than 2010 according to the ONS. Net borrowing was £14.1bn also lower than in September 2010 when it was £15.4bn. Net debt £966.8bn or 62.6% of GDP compared with £833bn in September 2010. Central government net cash requirement in September 2011 was £2.1bn lower than last year at £23bn.

Borrowing Continues To Increase

Net borrowing, excluding the temporary effects of financial interventions, was £15.9bn in August 2011, an increase of £1.9bn on last year according to data from the ONS. Public sector net investment (PSNI) was £2.1bn and public sector current budget (PSCB) deficit was £13.8bn.

The current budget deficit, excluding the temporary effects of financial interventions, was £13.8bn in August 2011, an increase of £2.2bn on 2010. Over the last three months the budget deficit has decreased from £44.5bn to £43.5bn.

Net debt (PSND), excluding the temporary effects of financial interventions, was £944.5bn, equivalent to 61.4% of GDP from £810.5bn or 55.3% GDP.

The public sector net borrowing figure of £15.9bn can also be arrived at by a calculation using data relating to central and local government borrowing. Central goverment borrowing was £14.7bn, local government borrowing was £1.5bn and public corporations borrowing was a negative figure of £0.3bn. Central government net cash requirement increased by £4.9bn from £5.8bn to £10.7bn.

Public Sector Deficit £6.5bn

The public sector current budget deficit in February 2011 was £6.5bn (excluding the temporary effects of financial interventions). Net borrowing was £11.8bn. Central government borrowing was £10.3bn and local government £1.7bn (General government borrowing £12bn) with public corporations -£0.2bn. Public sector net investment was £5.2bn, less than the £5.8bn invested in February 2010. Net debt at the end of February was £875.8bn, or 58% of GDP.

Central government receipts were £43.1bn and expenditure was £49.3bn giving a current budget deficit of -£6.8bn. The net investment of £3.5bn gives the net borrowing figure of £10.3bn.

Public Sector Finances July 2010

The public sector finances bulletin from the ONS estimates show a current budget deficit of £0.5bn in July 2010 along with net borrowing, excluding financial interventions, of £3.8bn for the same period. Net debt was £816.2bn which is equivalent to 56.1% of GDP.

General government borrowing was £3.8bn which was made up of £3.4bn borrowed by central government and £0.4bn by local government. Public corporations showed a surpus of £0.6bn on their borrowing so public sector borrowing was £3.2bn in July.

Budget Deficit Higher Than Last Year

The most recent estimates of public sector finances from the ONS say that in June 2010 there was a current budget deficit of £12.6bn but if the financial interventions are excluded from the figure the current budget deficit is £13.3bn, £1.1bn higher than in June 2009.

Public sector net borrowing (PSNB) was £14.5bn compared with £14.7bn in June 2009. If financial interventions are excluded PSNB for June 2010 was £15.2bn, £0.3bn higher than June 2009. On a financial year basis PSNB was £40.3bn April-June 2010 compared with £40.9bn in the same period in 2009. Public sector net debt (PSND) was £926.9bn or 63.9% of GDP but without the financial interventions the PSND was £813.7bn or £56.1% of GDP from £664bn at the end of June 2009 which was equivalent to 47.7% of GDP. Public sector net investment of £1.9bn compared with £2.8bn in June 2009.

The public sector net cash requirement was £20.9bn, £0.7bn higher compared with the requirement of £20.2bn in June 2009. Central government borrowing was £15.3bn compared with £19bn in 2009. Total current receipts were £37bn, current expenditure was £49.3bn and with depreciation at -£0.6bn the current budget was -£12.9bn. Local government borrowing was £0.1bn compared with -£0.1bn in 2009.