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.

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.

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.

Net Borrowing Lower Than In 2012

In 2012 public sector net borrowing (PSNB) was £33.5bn lower than in 2011/12 at £85bn, excluding temporary effects of financial interventions.

PSNB in May 2013 at £8.8bn was £6.9bn lower than in May 2012 when it was £15.6bn. The current budget was -£11.3bn and public sector net investment was £1.4bn. If the figures exclude the effects of the Bank of England Asset Purchase Facility and the Royal Mail Pension Plan PSNB equals £12.7bn and net investment £1.4bn.

Public sector net debt excluding the temporary effects of financial interventions (PSND ex) was £1,189.2bn or 75.2% of GDP.

Current Deficit Up £0.9bn

The public sector current budget deficit was £10.6bn in March 2013, up £0.9bn on March last year. Public sector net borrowing was down £1.6bn on last March to £15.1bn. Both the current budget deficit and net borrowing are reduced by £6.4bn due to cash transfers from the Bank of England Asset Purchase Facility Fund to Government. The Royal Mail Pension Plan also brought net borrowing down and public sector net investment down by £28bn.

Public sector net investment was £4.6bn compared to £7bn in March 2012. The 4G Spectrum auction receipts of £2.3bn are included in the 2012/13 PSNB ex figures. The 4G auction like the Olympics are recent events that affect public sector finances statistics. The central government net cash requirement for 2012/13 was £109.5bn, £17bn lower than in 2011/12 (£126.5bn). Public sector net debt was £1,185.8bn or 75.4% of GDP.

Public Sector Borrowing In Credit

Public sector net borrowing was back in credit again in January 2013 with borrowing at a negative level of -£11.4bn, £5bn higher net repayment than a year earlier when it was -£6.4bn.

The current budget surplus was £14.9bn, £5.1bn up on last year, public sector net debt was £1162.8bn (73.8% of GDP). Net investment was £3.5bn.

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.

Public Sector Borrowing Unchanged Over Year

Public sector net borrowing was unchanged over the year from August 2011 to August 2012 at £14.4bn according to a statistical bulletin from the Office for National Statistics (ONS). The current budget deficit in August was £13.2bn an increase of £0.4bn on last year. Net Investment was £1.2bn, a difference of £0.4% on last year. Net debt was £1039.5bn or 66.1% of GDP at the end of August. Differences in net borrowing and net investment figures were affected by the £28bn transfer from the assets of the Royal Mail Pension Plan in April.

Public Debt Growth In May

The Government's current budget deficit excluding the temporary effects of financial interventions was £16.9bn in May 2012 from -£14.2 in May 2011. Net borrowing was £17.9bn from £15.2bn and the net debt was £1013.4bn up from £921.3bn, a difference of £92.1bn.

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.

Borrowing Down By £2.2bn

Net borrowing was £2.2bn lower in December 2011 than it was in December 2010 and the current budget deficit was £2.5bn lower in the same period according to the ONS. Public sector net debt however was up to £1003.9bn (64.2% of GDP) from £883bn at the end of December. These statistics from the ONS exclude the effects of the government's financial interventions.

The financial interventions of the government mean that the current budget deficit was £7.9bn in December 2011 (£11.3bn in 2010), net borrowing was £10.8bn (£13.9bn) and the public sector net debt was £2329.9bn or 149.1% of GDP (compared with £2257bn or 151.8% of GDP).

Public Borrowing Lower Than Last December

The latest ONS figures for public sector finances show that there was a current budget deficit (excluding the temporary effects of financial interventions) of £10.8 billion in December 2011, £2.5bn lower than in December 2010.

Public sector net borrowing (excluding the temporary effects of financial interventions) of £13.7 billion in December 2011, £2.2bn lower than December 2010.

Public sector net debt (excluding the temporary effects of financial interventions) was £1003.9 billion, equivalent to 64.2% of GDP. PSND was £883bn in December 2010.

Public Sector Deficit Increase In April

Public sector finances statistics show that in April 2011 the current budget was -£8.4bn and net borrowing was £10bn compared with -£5.6bn and £7.3bn respectively in April 2010. Net debt increased from £765.5bn to £910.1bn or 60.1% of GDP. Public sector net investment was £1.6bn down slightly from £1.7bn in 2010.

Public Sector Finances In October

The public sector had a current budget deficit of £7.1bn and net borrowing of £10.3bn in October 2010 excluding the effects of financial interventions and at the end of October a net debt of £845.8bn or 57.1% of GDP.

Budget Deficit Increase £1.5bn

The public sector current budget deficit in September 2010 was £13.2bn, an increase of £1.5bn on September 2009 and public sector net investment was £3bn. Public sector borrowing was £0.7bn up on 2009 at £16.2bn. The public sector net debt was £842.9bn up from £687.5bn at the end of September 2010. These figures exclude the effects of the financial interventions.

Total current receipts for September 2010 were £38bn and total current expenditure £50.7bn giving a current budget of -£13.3bn when taking depreciation and investment into account.

Public Sector Budget Deficit Down In August

The public sector current budget deficit was £13.3bn in August 2010 compared to £14.1bn last August and £12.7bn including financial interventions. Net borrowing was £15.9bn and £15.3bn including financial interventions. Net debt was £823.3bn or 56.3% of GDP (£934.9bn).

Current receipts in August totalled £37.1bn compared to £34.9bn in August 2009 and current expenditure was £49.8bn as compared to £44.9bn last August. The public sector net cash requirement was £5.8bn compared to the £10.3bn net cash requirement of August 2009.

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.