Borrowing - the difference between total public sector spending and income - was £11.6 billion in December 2025; this was £7.1 billion or 38.0% less than December 2024 and the 10th highest December since monthly records began in 1993 (not adjusted for inflation). Borrowing in the financial year to December 2025 was £140.4 billion; this was £0.3 billion or 0.2% less than in the same nine-month period of 2024, but still the third-highest April to December borrowing on record (not adjusted for inflation), after those of 2020 and 2024. Borrowing in the financial year to December 2025 was provisionally estimated at 4.6% ... (full story)