UK Public Sector Net Borrowing (Monthly)

## What this measures

How much the UK public sector borrowed in the month: spending minus receipts. Positive is a deficit.

## Why it matters

It is the monthly check on whether the government is on track for its fiscal forecasts.

## How to read it

Months are lumpy with tax receipts (January is usually in surplus); compare the financial year to date with the Office for Budget Responsibility forecast.

## What it does not say

It is not seasonally adjusted and is heavily revised.

## Source

Office for National Statistics, series DZLS (dataset PUSF), "PSNB ex: Public sector net borrowing excluding public sector banks £m". Palanor reads it from the ONS website's time-series data every day.

Source: Office for National Statistics licensed under the Open Government Licence v.3.0.