Each month I write an article for ICAEW on the monthly public sector finance release. Here are my most recent articles:
April’s public sector finances add to the Chancellor’s woes
Higher welfare spending pushed the deficit up by £5bn, from £19bn in the month of April 2025 to £24bn in April 2026, while opening net debt was revised up by £6bn.
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End-of-year numbers show UK deficit lower than expected
The Office for National Statistics reports that UK sector net borrowing at the end of the 2025/26 financial year came in £1bn under the Spring Forecast estimate but remained £14bn more than budgeted.
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Government’s £21bn overspend pales compared with what is coming
The year-to-date budget overrun jumped to £21bn in February, an unhelpful development for a Chancellor trying to calculate just how much extra she might be able to borrow to bail out households facing large rises in their energy bills.
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Record January surplus not enough to return public finances to budget
Better than expected self-assessment receipts contributed to a fiscal surplus in January, clawing back almost half of the year-to-date budget overrun.
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Not much happens in December’s public finances
The monthly deficit for December was in line with budget for the first time this financial year, while revisions to previous months reduced the year-to-date budget overrun by £3bn to £13bn.
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