Budget deficit down over £100 billion so far in 2021-22

Government borrowing in October 2021 was £18.8 billion, down £0.2 billion from last year. But year to date borrowing of £127.3 billion is down £103.4 billion (44.8 per cent) on the same period last year. This reflects the economic recovery boosting receipts and the lower cost of pandemic-related support schemes, but is partially offset by a sharp rise in debt interest payments thanks to higher RPI inflation in recent months.

Line chart showing cumulative public sector net borrowing


Key publications

Medium-term forecasts

Five year forecasts for the UK economy and public finances and an assessment of whether the Government is likely to achieve its fiscal targets.

Long-term projections

50 year ahead projections for the UK public finances and public sector balance sheet analysis. Also the recent vehicle for our Coronavirus scenarios.

Forecast evaluation

Report into how our forecasts compare to subsequent outturn data and identifying lessons for future forecasts.

Welfare spending trends

An in-depth look at the drivers of welfare spending both inside and outside the Government’s welfare cap.

Fiscal risks

A report published every two years on the main risks to the public finances.

Monthly commentary

Our monthly commentary on the latest public finances data and how it compares to our most recent forecast.