Close

UK public sector net borrowing was a surplus of £2.9B in January, £5.4B less borrowing than in January 2021: ONS

LONDON Feb 22, 2022 Press Release 2 min read

Exclusive Industry Insights

By submitting, you agree to our Privacy Policy

Share this article:

LONDON , February 22, 2022 (press release) –

How the relationship between UK public sector monthly income and expenditure leads to changes in deficit and debt.

Main points

  • Public sector net borrowing excluding public sector banks (PSNB ex) was a surplus of £2.9 billion in January 2022; this was equivalent to £5.4 billion less borrowing than in January 2021 but still a £7.0 billion smaller surplus than in January 2020, before the coronavirus (COVID-19) pandemic.
  • Central government receipts were £91.6 billion in January 2022, £8.6 billion more than in January 2021, of which Self-assessed Income Tax receipts were £18.4 billion, an increase of £2.0 billion.
  • Central government current (or day-to-day) expenditure was £76.3 billion in January 2022, £0.5 billion more than in January 2021, of which debt interest payments were £6.1 billion, an increase of £4.5 billion.
  • PSNB ex was £138.5 billion in the financial year-to-January 2022; this was the second-highest financial year-to-January borrowing since monthly records began in 1993 but around half (or £140.2 billion less than) that of the same period last year.
  • Central government net cash requirement (excluding UK Asset Resolution Ltd and Network Rail) was a surplus of £23.2 billion in January 2022, a £12.5 billion greater surplus than in January 2021, bringing the total for the financial year-to-January 2022 to £108.9 billion.
  • Public sector net debt excluding public sector banks (PSND ex) was £2,317.6 billion at the end of January 2022 or around 94.9% of gross domestic product (GDP), maintaining a level not seen since the early 1960s.
  • Public sector net debt excluding public sector banks and the Bank of England (PSND ex BoE) was £1,995.5 billion at the end of January 2022 or around 81.7% of GDP.

Industry Intelligence Editor's Note: This press release omits select charts and/or marketing language for editorial clarity. Click here to view the full report.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistribute or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Stay Ahead of Changes

Don't Wait. Stay Informed.

The world and your industry are changing too fast. You need to know what's happening, and our Legislation Monitor can help. It's a critical resource for anyone who wants to stay ahead of regulatory and legal challenges. Then, discover the other ways that Industry Intelligence Inc. can help your business.

Cookie Preferences

This website uses cookies to enhance your browsing experience, analyze site performance, and deliver personalized content. We use a minimal cookie to remember your preferences. For detailed information about our cookie usage, please review our Privacy Policy.