Government Borrowing

20 February 2026

January Government borrowing figures
The all-important January surplus, which was a record Ł30.4bn, over Ł6bn above the market and OBR forecasts. The cumulative borrowing figure ten months into 2025/26 fell to Ł112.1bn, Ł12.6bn below the corresponding figure for 2024/25

23 January 2026

December Government borrowing figures
December’s monthly deficit, which was Ł11.6bn, Ł1.4bn below consensus forecasts. The cumulative borrowing figure nine months into 2025/26 is Ł140.4bn, Ł0.3bn below the corresponding figure for 2024/25

19 December 2025

November Government borrowing figures
November’s monthly deficit, which was Ł11.7bn. After several revisions, the cumulative borrowing figure eight months into 2025/26 is now Ł6bn below the OBR’s November 2025 EFO projection for the entire year and Ł14.6bn higher than the corresponding OBR full year projection made in March 2025

21 November 2025

October Government borrowing
October’s monthly deficit, which was Ł17.4bn, Ł3.0bn above the OBR’s monthly forecast. The cumulative borrowing figure seven months into 2025/26 is now less than Ł1bn below the OBR’s target for the year

22 October 2025

September's Government borrowing figures
September's monthly deficit, which was Ł20.2bn, just Ł0.1bn above the OBR’s monthly forecast. However, the cumulative borrowing figure half way through 2025/26 is Ł7.2bn over target

19 September 2025

August Government borrowing figures
August’s monthly deficit, which was just Ł1.1bn, Ł1.0bn below the OBR’s monthly forecast