• UK public sector net borrowing (excluding public sector banks) in October 2018 was £8.8 billion, £1.6 billion more than in October 2017

Market news

21 November 2018

UK public sector net borrowing (excluding public sector banks) in October 2018 was £8.8 billion, £1.6 billion more than in October 2017

Borrowing (Public sector net borrowing excluding public sector banks) in October 2018 was £8.8 billion, £1.6 billion more than in October 2017; this was the highest October borrowing for three years (since 2015).

Borrowing in the current financial year-to-date (YTD) was £26.7 billion: £11.2 billion less than in the same period in 2017; the lowest year-to-date for 13 years (since 2005).

On 29 October 2018, the Office for Budget Responsibility (OBR) revised their official forecast of borrowing for the financial year ending (FYE) March 2019 down by £11.6 billion to £25.5 billion.

Borrowing in the FYE March 2018 was £40.1 billion: £5.5 billion less than in FYE March 2017; the lowest financial year for 11 years (since FYE 2007).

Debt (Public sector net debt excluding public sector banks) at the end of October 2018 was £1,791.6 billion (or 84.0% of gross domestic product (GDP)); an increase of £1.9 billion (or a decrease of 2.7 percentage points) on October 2017.


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