According to the report from the Office for National Statistics (ONS), in April, net borrowing by the public sector, including state-owned banks (PSCB ex) was 20.16 billion pounds compared to 14.14 billion pounds in March (revised from 16.44 billion pounds). This was 1.0 billion pounds more than in April 2024 and the fourth-highest April borrowing since monthly records began in 1993. Economists had expected a deficit of 17.9 billion pounds.
PSCB ex in the financial year to March 2025 was provisionally estimated at 148.3 billion pounds. This is 3.7 billion pounds lower than our initial estimate published in April 2025 and is now 11.0 billion pounds more than the 137.3 billion pounds forecast by the Office for Budget Responsibility (OBR).
Central government's receipts were 82.9 billion pounds in April, 5.1 billion pounds more than in April 2024. Central government's current expenditure was provisionally estimated as 93.9 billion pounds in April, 4.2 billion pounds more than in April 2024. The interest payable on central government debt was 9.0 billion pounds in April, 0.5 billion pounds less than in April 2024.
Public sector net debt excluding public sector banks was provisionally estimated at 95.5% of GDP at the end of April. This was 0.7 percentage points more than at the end of April 2024 and remains at levels last seen in the early 1960s. Public sector net financial liabilities excluding public sector banks were provisionally estimated at 83.5% of GDP at the end of April. This was 3.3 percentage points more than at the end of April 2024, but 12.0 percentage points less than for public sector net debt.