The UK budget deficit declined in September, data from the Office for National Statistics showed Friday.
Public sector net borrowing excluding public sector banks decreased by GBP 1.6 billion from a year ago to GBP 14.3 billion in September. This was the sixth highest September borrowing since monthly records began in 1993.
Interest payable on central government debt was GBP 0.7 billion, which was GBP 7.2 billion less than in September 2022. This was the third lowest in any month since monthly records began in 1997 largely due to the fall in the retail prices index. Data showed that central government's receipts grew GBP 3.4 billion annually to GBP 77.3 billion, and also exceeded the GBP 75.4 billion forecast by the Office for Budget Responsibility in March 2023.
At the end of September, public sector net debt was GBP 2,599.0 billion or around 97.8 percent of GDP. This was 2.1 percentage points higher than in September 2022.
