This morning’s ONS release estimates that borrowing in the first five months of 2026-27 totalled £77.3 billion. This is £2.2 billion below the same period last year and £8.1 billion above the monthly profile consistent with our March forecast. This is driven by £7.4 billion of higher-than-forecast central government spending in the year-to-date, driven by net social benefits and debt interest. Central government receipts for the year-to-date are £1.1 billion above the forecast profile, primarily driven by strength in onshore corporation tax and PAYE income tax and NICs.
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Latest year-to-date borrowing estimate above March forecast profile
22 September 2026 | Home, Monthly public finances release
This morning’s ONS release estimates that borrowing in the first five months of 2026-27 totalled £77.3 billion. This is £2.2 billion below the same period last year and £8.1 billion above the monthly profile consistent with our March forecast. This is driven by £7.4 billion of higher-than-forecast central government spending in the year-to-date, driven by net social benefits and debt interest. Central government receipts for the year-to-date are £1.1 billion above the forecast profile, primarily driven by strength in onshore corporation tax and PAYE income tax and NICs.