According to the report from the Office for National Statistics (ONS), in June, net borrowing by the public sector, including state-owned banks (PSCB ex) was 20.68 billion pounds compared to 17.44 billion pounds in May (revised from 17.69 billion pounds). This was 6.6 billion pounds more than in June 2024 and the second-highest June borrowing since monthly records began in 1993, after that of June 2020. Economists had expected a deficit of 15.6 billion pounds.
PSCB ex in the financial year to June 2025 was 57.8 billion pounds. This was 7.5 billion pounds more than in the same three-month period of 2024 and the third-highest April to June borrowing since monthly records began, after those of 2020 and 2021.
The central government's current receipts were 86.8 billion pounds in June, 5.7 billion pounds more than in June 2024. The central government's current expenditure was provisionally estimated as 97.1 billion pounds in June, 12.4 billion pounds more than in June 2024. The interest payable on central government debt was 16.4 billion pounds in June, 8.4 billion pounds more than in June 2024, and 2.4 billion pounds more than the 14.0 billion pounds forecast by the Office for Budget Responsibility (OBR). This was the second-highest June interest payable since monthly records began in 1997, after that of June 2022.
Public sector net debt excluding public sector banks was provisionally estimated at 96.3% of gross domestic product (GDP) at the end of June. This was 0.5 percentage points more than at the end of June 2024 and remains at levels last seen in the early 1960s. Public sector net financial liabilities excluding public sector banks were provisionally estimated at 83.8% of GDP at the end of June. This was 2.2 percentage points more than at the end of June 2024, but 12.5 percentage points less than for public sector net debt.