UK public borrowing falls to 22.8 billion pounds in June

According to the report from Office for National Statistics, public sector net borrowing (excluding public sector banks, PSNB ex) was estimated to have been £22.8 billion in June 2021; this was the second-highest June borrowing since monthly records began in 1993, £5.5 billion less than in June 2020.

Central government receipts in June 2021 were estimated to have been £62.2 billion, £9.5 billion more than in June 2020, while central government bodies spent £84.1 billion, £2.5 billion more than in June 2020.

Public sector net borrowing (PSNB ex) was estimated to have been £69.5 billion in the financial year-to-June 2021; this was the second-highest financial year-to-June borrowing since monthly records began in 1993, £49.8 billion less than in the same period last year.

Public sector net borrowing (PSNB ex) in the financial year ending (FYE) March 2021 was estimated to have been £297.7 billion, revised down by £1.5 billion from last month’s provisional estimate but still the highest borrowing since financial year records began in FYE March 1946.

Public sector net debt (excluding public sector banks, PSND ex) was £2,218.2 billion at the end of June 2021 or around 99.7% of GDP, the highest ratio since the 102.5% recorded in March 1961.