This morning’s ONS release provides an initial estimate for full year 2025-26 public sector net borrowing of £132.0 billion. This is £19.8 billion below the latest full year estimate of borrowing in 2024-25. As the ONS states, this initial estimate should be seen as provisional and is typically revised in future. However, it is currently close to our March 2026 forecast for 2025-26 of £132.7 billion.
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Initial estimate of 2025-26 borrowing in line with forecast
23 April 2026 | What's new, Home, Monthly public finances release
This morning’s ONS release provides an initial estimate for full year 2025-26 public sector net borrowing of £132.0 billion. This is £19.8 billion below the latest full year estimate of borrowing in 2024-25. As the ONS states, this initial estimate should be seen as provisional and is typically revised in future. However, it is currently close to our March 2026 forecast for 2025-26 of £132.7 billion.