• UK public sector net borrowing rose in September

Market news

22 October 2019

UK public sector net borrowing rose in September

According to the report from Office for National Statistics, borrowing (public sector net borrowing excluding public sector banks) in September 2019 was £9.4 billion, £0.6 billion more than in September 2018; this is the first September year-on-year borrowing increase for five years.

Borrowing in the current financial year-to-date (April 2019 to September 2019) was £40.3 billion, £7.2 billion more than in the same period last year; this is the first April-to-September borrowing increase for five years.

Debt (public sector net debt excluding public sector banks) at the end of September 2019 was £1,790.9 billion (or 80.3% of gross domestic product (GDP)), an increase of £27.3 billion, or a decrease of 1.2 percentage points, on September 2018.

Debt at the end of September 2019 excluding the Bank of England (mainly quantitative easing) was £1,611.1 billion or 72.2% of GDP; this is an increase of £38.6 billion, or a decrease of 0.5 percentage points on September 2018.

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