Regno Unito Valore Bilancio Pubblico

UK public sector net borrowing (excluding public sector banks) narrowed to £11.7 billion in November 2025, down from £13.6 billion a year earlier, but above market expectations of £10 billion. Total public sector receipts increased by £5.9 billion year-on-year, supported by higher central government tax revenues and National Insurance contributions. Meanwhile, total public sector expenditure rose by £4.0 billion, reflecting increased spending on public services and social benefits, while debt interest costs declined compared with last year amid easing inflation-linked payments. For the financial year to November, borrowing reached £132.3 billion, up £10.0 billion, or 8.2%, from the same eight-month period of 2024, marking the second-highest April-to-November borrowing on record after 2020. Public sector net debt, excluding public sector banks, stood at around 95.6% of GDP, remaining close to historically elevated levels.