Royaume-Uni Valeur des budgets du gouvernement

UK public sector net borrowing (excluding public sector banks) narrowed to £17.4 billion in October 2025 from £19.3 billion a year earlier, but above market expectations of £15.2 billion. This marked the third-highest October deficit on record. Total public sector spending rose by £4.5 billion, driven by higher costs of providing public services and benefits, partially offset by a decrease in interest payable on central government debt. Meanwhile, total receipts increased by £6.3 billion, supported by higher central government tax revenues and National Insurance contributions. For the financial year up to October, borrowing reached £116.8 billion, an increase of £9.0 billion (8.4%) compared with the same seven-month period in 2024. This represents the second-highest April-to-October borrowing on record, surpassed only by 2020. Public sector net debt excluding public sector banks was at 94.5% of GDP.