UK public sector net borrowing (excluding public sector banks) was GBP 1.8 billion in July 2026, marginally higher than from GBP 1.1 billion in the same month a year earlier and compared with market expectations for no change. Public sector spending increased by GBP 5.6 billion year-on-year to GBP 115.3 billion, while receipts rose by GBP 4.8 billion to GBP 113.5 billion. Borrowing in the financial year to July 2026 totaled GBP 56.7 billion, GBP 6.0 billion, or 9.6%, lower than in the same period a year earlier, but GBP 2.3 billion above the OBR’s forecast. It marked the 12th-lowest April-to-July borrowing total since comparable monthly records began in 1993. Public sector net debt stood at 94.9% of GDP, 0.4 percentage points higher than a year earlier and at its highest level since the early 1960s.