Latest data on government net borrowing and net debt.Jump to full report >>
Government borrowing in the current financial year to date (April to November 2017) was £3.1 billion lower compared with the same period in 2016. This is equivalent to a decrease of 6%. However, the OBR forecast that borrowing across the financial year will be higher in 2017/18 than in 2016/17. The OBR expect growth in tax receipts to slow in the later part of 2017/18, pushing up borrowing.
At the end of November 2017 public sector net debt was equivalent to 84.6% of GDP, up 1.2% points on November 2016.
The ONS’s figures for 2016/17 are provisional: they are not final figures and may be revised over the coming months as provisional data are replaced with finalised and audited data.
Net borrowing – often described as the deficit – is the difference between what the government spends and what it receives in taxes over a particular time period.
Net debt is the total amount that the public sector owes – it is largely the stock of past borrowing.
All figures exclude public sector banks.