UK Budget Deficit Exceeds Estimate

(RTTNews) - The UK budget deficit widened more than officially estimated in May, data published by the Office for National Statistics showed Friday.

Public sector net borrowing rose to GBP 23.3 billion from GBP 17.9 billion in the previous month.

This was the second highest borrowing in any May on record. The Office for Budget Responsibility had estimated borrowing at GBP 17.7 billion, making the actual figure substantially larger than projected.

In May, central government debt interest payable increased GBP 4.1 billion to GBP 11.7 billion. This amount was the highest in any May on record.

In the financial year to May, borrowing increased GBP 8.9 billion to GBP 46.3 billion, equivalent to 1.5 percent of gross domestic product and marked the fifth highest value since monthly records began in 1993.

At the end of May, public sector net debt was estimated at 95.1 percent of GDP, which was 0.4 percentage points more than in May 2025, the ONS said.