UK borrowing: is the government spending more than it takes in?
In September 2026, the public sector received £99.3bn and spent £123.8bn, so it borrowed £24.5bn. That is £1.8bn more than in September last year.
What is happening in the UK
Budget 2026 explained →Four figures from the OBR's October 2026 forecast. Borrowing for 2026-27 is forecast higher than in the March 2026 forecast. Taxes are forecast to rise as a share of GDP by 2031-32. Each card links to the chart behind it.
Borrowing so far in 2026-27
Borrowing added up month by month since April, this financial year against last.
Office for National Statistics · Public sector net borrowing excluding public sector banks (J5II) · Published 21 Oct 2026 · Licence terms · Source data · Methodology
Net debt at end of September 2026
£3,005.0bn
Public sector net debt, excluding public sector banks. The latest month is provisional.
Net debt, September 2026
94.0% of GDP
Share of calendar-year GDP is on the debt page. This month's ratio is HF6X.
Debt interest in September 2026
£10.9bn
Central government interest paid, net of interest received, including inflation uplift on index-linked gilts.
Interest share of receipts, calendar year 2025
8.1%
Debt interest (NMFX) divided by public sector receipts (JW2O). Both annual series are calendar years, not financial years.
Largest monthly surplus
£32.0bn
in Jan 2026
Largest monthly borrowing
£51.1bn
in May 2020
Highest debt as a share of GDP
97.8%
in Sept 2020
Public sector net borrowing by month
£bn. Bars above zero are borrowing; below zero, a surplus.
Office for National Statistics · Public sector net borrowing excluding public sector banks (J5II) · Published 21 Oct 2026 · Licence terms · Source data · Methodology