UK public sector net borrowing, excluding banks
UK public sector net borrowing, excluding banks stood at -£18,268m in Aug 2026, according to Office for National Statistics (ONS). It is one of the indicators in the Public sector finances table (Value · Monthly), with a complete series running from Jan 1993 to Aug 2026. The complete series with an interactive chart, free to download.
This indicator in the Public sector finances table
| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Borrowing and debt | |||||||||||
| Public sector net borrowing, excluding banks | -18,268 | -2,040 | -13,719 | -19,873 | -23,401 | -12,307 | -12,764 | 32,023 | -12,930 | -9,911 | |
| Public sector net borrowing, including banks | -18,268 | -2,040 | -13,719 | -19,873 | -23,401 | -12,307 | -12,764 | 32,023 | -12,930 | -9,911 |
Understanding UK public sector net borrowing, excluding banks
This monthly metric quantifies the difference between total public sector spending and revenue across the United Kingdom, deliberately omitting the financial interventions undertaken for commercial banking institutions. It encompasses central government, local authorities and public corporations, expressing the overall cash requirement that must be met through financial markets. Unlike debt figures which accumulate over generations, this series tracks the flow of funds within a single accounting period, capturing how far ordinary tax receipts and other income fall short of, or exceed, day-to-day outlays and capital investments.
Interpreting these figures requires careful attention to pronounced seasonal tax payment cycles, particularly surrounding corporate and personal self-assessment deadlines that regularly alter monthly outcomes. Initial estimates are subject to routine revisions as more complete administrative returns arrive from government departments and local bodies. Analysts should compare corresponding months across different years rather than sequential months to bypass routine tax collection rhythms. Conflating this measure with debt totals is a frequent error; borrowing represents the annual flow, whereas debt accumulates the total stock of liabilities.
Frequently asked questions
- How does this exclude-banks measure differ from the inclusive alternative?
- It leaves out the assets, liabilities and temporary support interventions associated with publicly rescued commercial banking institutions.
- Why do initial monthly borrowing figures frequently undergo subsequent revisions?
- Early estimates rely on provisional administrative returns and forecasts that are later replaced by audited outturn data from departments.
- Is this series adjusted for price inflation?
- No, the figures are presented in current cash terms as recorded by public sector accounting systems.