The UK budget deficit surpassed the official estimate in the financial year to September, reaching the second highest level on record due to higher debt costs, data from the Office for National Statistics showed on Tuesday.
In the first half of the year, public sector net borrowing rose by GBP 11.5 billion from the last year to GBP 99.8 billion.
The borrowing reached the second-highest April to September level since monthly records began in 1993, after that of 2020. Moreover, this was above the Office for Budget Responsibility's estimate of GBP 92.6 billion.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.