How much does the government borrow?

Public sector net borrowing: -£1.8bn £ million, July 2026

The difference between what the public sector (excluding public sector banks) spends and what it receives in a month. A positive figure is borrowing; a negative figure is a surplus.

Borrowing since 1900, per cent of GDP: 1.6% per cent of GDP, Year ending March 2031

Public sector net borrowing as a share of GDP for every financial year since 1900-01, as compiled by the OBR; years after the stated outturn date are the OBR's forecast.

National debt since 1900, per cent of GDP: 95.1% per cent of GDP, Year ending March 2031

Public sector net debt as a share of GDP at the end of every financial year since 1900-01, as compiled by the OBR; years after the stated outturn date are the OBR's forecast.

Debt interest paid: £10.3bn £ million, July 2026

Interest and dividends paid by the public sector to the private sector and the rest of the world in the month, excluding public sector banks.

Since the current government took office

Changes during a government do not by themselves show what it caused. Method.

What these figures don’t measure

Public sector net borrowing: The stock of debt, which is the accumulation of past borrowing, or borrowing by public sector banks.

Borrowing since 1900, per cent of GDP: Borrowing in cash terms, or the current budget deficit.

National debt since 1900, per cent of GDP: Debt in cash terms, or debt excluding the Bank of England.

Debt interest paid: Interest paid between parts of the public sector, which nets out.