UK Net Borrowing Stands at Historic High £13.1 Billion in February

Source: Office for National Statistics

Public sector net borrowing in the United Kingdom remained at a historic high in February, marking the second-highest print for the month since data collection started in 1993. EWU is up 1.11% premarket.

• Net borrowing excluding public sector banks stood at £13.1 billion in February, £2.4 billion lower than the same month in 2021 but £12.8 billion higher than in February 2020.
• Central government receipts for the month were recorded at £71.9 billion, up by £5.8 billion from the same month last year. Tax receipts grew by £4.2 billion to £53.7 billion.
• Central government spending stood at £73.2 billion, up £1.0 billion from February 2021. Debt interest payments climbed by £2.8 billion to £8.2 billion.
• Net cash requirements fell by £4.8 billion to £1.6 billion, driving the year-to-February reading to £110.5 billion.
• Net debt without public sector banks was £2.326 trillion, equivalent to 94.7% of the gross domestic product.