Borrowing - the difference between total public sector spending and income - was £11.7 billion in November 2025; this was £1.9 billion (or 14.0%) less than November 2024 and the lowest November borrowing since 2021 (not adjusted for inflation).

• Borrowing in the financial year to November 2025 was £132.3 billion; this was £10.0 billion (or 8.2%) more than in the same eight-month period of 2024 and the second-highest April to November borrowing on record (not adjusted for inflation), after that of 2020.

• Borrowing in the financial year to November 2025 was provisionally estimated at 4.4% of gross domestic product (GDP); this was 0.1 percentage points more than in the same eight-month period of 2024.

• The current budget deficit - borrowing to fund day-to-day public sector activities - was £5.6 billion in November 2025; this brings the total current budget deficit in the financial year to November 2025 to £93.0 billion, which is £7.0 billion (or 8.1%) more than in the same eight-month period of 2024.

• Public sector net debt excluding public sector banks - a measure of the amount of money owed to the UK private sector and overseas, less any liquid assets held - was provisionally estimated at 95.6% of GDP at the end of November 2025; this was 0.3 percentage points more than at the end of November 2024 and remains at levels last seen in the early 1960s.

• Public sector net financial liabilities excluding public sector banks - a wider range of financial assets and liabilities than net debt - were provisionally estimated at 85.1% of GDP at the end of November 2025; this was 2.7 percentage points more than at the end of November 2024, but 10.5 percentage points less than for public sector net debt.

• Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) - the additional cash needed to be raised from the financial markets to finance activities - was £13.6 billion in November 2025; this was £2.7 billion (or 16.8%) less than in November 2024.