UK public sector net borrowing (excluding public sector banks) recorded GBP16.0 billion in June 2026, a third lower than GBP23.9 billion in the same month last year and below market expectations of GBP19.8 billion. In the financial year through June 2026, public sector net borrowing stood at GBP57.6 billion, GBP3.7 billion lower than in the same period last year but GBP2.7 billion above the OBR’s March forecast, marking the tenth-highest April-to-June borrowing since comparable records began in 1993. Central government receipts rose to GBP95.0 billion, up GBP5.2 billion from a year earlier, supported by strong growth in income-related taxes and Value Added Tax receipts. Meanwhile, central government expenditure eased to GBP111.4 billion from GBP112.9 billion, largely reflecting a GBP5.3 billion decline in debt interest payments to GBP11.8 billion, although they remained the fourth-highest June on record. Public debt remained close to 95% of GDP, near its highest level since the early 1960s.