The UK government recorded an £18.6 billion deficit in its public finances in April of 2022, the first month of the new financial year, higher than market expectations of £17.9 billion, and the fourth-largest April borrowing since monthly records began in 1993. Central government receipts were £70.2 billion, of which tax receipts were £50.2 billion and current expenditure was £76 billion with the additional £3 billion cost of the Council Tax rebate payments being offset by reductions in other areas of expenditure, including subsidies and transfers to local government. Net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was £2.4 billion in April 2022, £28.1 billion less than in April 2021. Net debt excluding public sector banks was £2,347.7 billion at the end of April 2022, or around 95.7% of GDP, an increase of £179.1 billion or 0.9 percentage points of GDP compared with April 2021. source: Office for National Statistics

Government Budget Value in the United Kingdom averaged -5806.26 GBP Million from 1993 until 2022, reaching an all time high of 11495 GBP Million in January of 2019 and a record low of -51875 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 June of 2022.

Government Budget Value in the United Kingdom is expected to be -14800.00 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



Related Last Previous Unit Reference
Government Budget Value -18560.00 -14674.00 GBP Million Apr 2022
Government Spending 115215.00 117221.00 GBP Million Mar 2022
Government Debt 2347.70 2343.90 GBP Billion Apr 2022
Fiscal Expenditure 88824.00 96836.00 GBP Million Apr 2022
Tax Revenue 50154.00 57663.00 GBP Million Apr 2022
Government Revenues 70230.00 78284.00 GBP Million Apr 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
-18560.00 -14674.00 11495.00 -51875.00 1993 - 2022 GBP Million Monthly
Current Prices, NSA

News Stream
UK Budget Gap Remains Elevated
The UK government recorded an £18.6 billion deficit in its public finances in April of 2022, the first month of the new financial year, higher than market expectations of £17.9 billion, and the fourth-largest April borrowing since monthly records began in 1993. Central government receipts were £70.2 billion, of which tax receipts were £50.2 billion and current expenditure was £76 billion with the additional £3 billion cost of the Council Tax rebate payments being offset by reductions in other areas of expenditure, including subsidies and transfers to local government. Net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was £2.4 billion in April 2022, £28.1 billion less than in April 2021. Net debt excluding public sector banks was £2,347.7 billion at the end of April 2022, or around 95.7% of GDP, an increase of £179.1 billion or 0.9 percentage points of GDP compared with April 2021.
2022-05-24
UK March Budget Gap 2nd Highest on Record
The UK government recorded an £18.1 billion deficit in its public finances in March of 2022, less than market expectations of £19.3 billion. Still, it was the second-highest March borrowing since monthly records began in 1993. The borrowing was £8.8 billion less than in March 2021 but still £11.9 billion more than in March 2020. Central government receipts were estimated to have been £73.8 billion, an £8.0 billion increase compared with March 2021. Of these receipts, tax revenue increased by £6.6 billion to £54.8 billion. Central government bodies spent £77.3 billion on current (day-to-day) expenditure, £8.4 billion less than in March 2021. Public sector net borrowing excluding public sector banks was £151.8 billion or around 6.4% of GDP in the financial year ending March 2022; this was the third-highest FY borrowing since records began in FYE March 1947, but less than half of the £317.6 billion borrowed in the same period last year.
2022-04-26
UK February Budget Gap 2nd Highest on Record
The UK government recorded a £13.1 billion deficit in its public finances in February of 2022, much higher than market expectations of £8.1 billion. It is the second-highest February borrowing since monthly records began in 1993; this was £2.4 billion less than in February 2021 but still £12.8 billion more than in February 2020, before the coronavirus pandemic. Central government receipts were £71.9 billion, £5.8 billion more than in February 2021, of which tax receipts were £53.7 billion, an increase of £4.2 billion. Central government current expenditure was £73.2 billion, £1.0 billion more than in February 2021, of which debt interest payments were £8.2 billion, an increase of £2.8 billion. Borrowing for the first 11 months of the 2021/2022 financial year was £138.4 billion, 52% below a record from April 2020 to February 2021. Borrowing for 2021/22 is on course to come in below government forecasts, largely thanks to stronger-than-expected tax revenue.
2022-03-22