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UK public sector net borrowing rose in September
According to the report from Office for National Statistics, borrowing (public sector net borrowing excluding public sector banks) in September 2019 was £9.4 billion, £0.6 billion more than in September 2018; this is the first September year-on-year borrowing increase for five years.
Borrowing in the current financial year-to-date (April 2019 to September 2019) was £40.3 billion, £7.2 billion more than in the same period last year; this is the first April-to-September borrowing increase for five years.
Debt (public sector net debt excluding public sector banks) at the end of September 2019 was £1,790.9 billion (or 80.3% of gross domestic product (GDP)), an increase of £27.3 billion, or a decrease of 1.2 percentage points, on September 2018.
Debt at the end of September 2019 excluding the Bank of England (mainly quantitative easing) was £1,611.1 billion or 72.2% of GDP; this is an increase of £38.6 billion, or a decrease of 0.5 percentage points on September 2018.
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