This morning’s ONS release estimates that borrowing in the first six months of 2025-26 totalled £99.8 billion. This is £11.5 billion above the same period last year and £7.2 billion above the monthly profile consistent with our March forecast. Revised estimates of tax receipts for the year-to-date have reduced the estimated borrowing overshoot compared to last month. Central government accrued receipts and spending are now both close to the forecast profile for the year-to-date. Borrowing remains higher than in our March profile because of higher estimated borrowing by local authorities and public corporations.
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Latest receipts data reduces year-to-date borrowing overshoot
21 October 2025 | Monthly public finances release
This morning’s ONS release estimates that borrowing in the first six months of 2025-26 totalled £99.8 billion. This is £11.5 billion above the same period last year and £7.2 billion above the monthly profile consistent with our March forecast. Revised estimates of tax receipts for the year-to-date have reduced the estimated borrowing overshoot compared to last month. Central government accrued receipts and spending are now both close to the forecast profile for the year-to-date. Borrowing remains higher than in our March profile because of higher estimated borrowing by local authorities and public corporations.