Public sector net borrowing excluding public sector banks (PSNB ex) in August 2023 was £11.6 billion, £3.5 billion more than in August 2022 and the fourth highest August borrowing since monthly records began in 1993. PSNB ex in the financial year to August 2023 was £69.6 billion, £19.3 billion more than in the same five-month period last year but £11.4 billion less than the £81.0 billion forecast by the Office for Budget Responsibility (OBR). Public sector net debt (PSND ex) was £2,594.1 billion at the end of August 2023 and was provisionally estimated at around 98.8% of the UK’s annual gross domestic product (GDP); ... (full story)