What is the UK national debt?

The ONS publishes the UK's public sector net debt every month in its public sector finances release, jointly with HM Treasury. The usual headline measure excludes the Bank of England ("PSND ex BoE") and is shown both in pounds and as a share of GDP.

The fiscal rules use other measures too, such as public sector net financial liabilities. A claim about "the national debt" should say which measure it uses and which month. The Office for Budget Responsibility forecasts where debt is heading.

Official sources: ONS public sector finances (latest) · Net debt as % of GDP (HF6X)

The latest figure

The newest value is at Office for National Statistics (ONS). More on it: UK public sector net borrowing.

When is the next figure out?

Monthly, usually around the third week of the month, 7am; next release 21 October 2026

Every official release due in the next two weeks is on the release calendar.

Terms used in this answer

• Public sector net debt (PSND)
  The public sector's financial liabilities, mainly government bonds, minus its liquid assets such as cash. The headline measure of the national debt.
• Public sector net borrowing (PSNB)
  The gap between what the public sector spends and what it receives in a period. Often called the deficit; it adds to debt.
• Gilts
  Bonds issued by the UK government to borrow money. They pay a fixed interest (coupon) and repay the face value at maturity; index-linked gilts rise with RPI.
• Current budget
  Government day-to-day receipts minus day-to-day spending, leaving out investment. A current budget surplus means taxes cover running costs.
• Debt interest
  What the government pays each year to service its debt, including interest on gilts and the uplift on index-linked gilts when inflation rises.
• Public sector net financial liabilities (PSNFL)
  A wider measure of public sector debt that subtracts all financial assets, such as student loans and equity holdings, not just cash and reserves.

Where the figures come from

• UK tax rates, allowances and taxpayer statistics (GOV.UK, HMRC, OBR, Revenue Scotland and Welsh Revenue Authority)
  Where to check official UK income tax bands, National Insurance, VAT, stamp duty, inheritance tax and taxpayer numbers, and how to test tax claims.
• Northern Ireland Statistics and Research Agency (NISRA) and Northern Ireland departmental statistics
  A guide to NISRA and Northern Ireland official statistics: population, census, NICEI, jobs, waiting times, PSNI crime and house prices.
• Scottish official statistics: Scottish Government, National Records of Scotland, Public Health Scotland and others
  Where to find official Scottish figures: GERS, Scottish GDP, NRS population and deaths, PHS waiting times, exam results and SFC forecasts.

Related questions

• What is the UK debt to GDP ratio?
• How much is the UK government borrowing?
• How much tax revenue does the UK collect?

This answer says where the official figures are published and how they are defined. It gives no verdict on any claim. To report an error, send a correction request. More questions about public finances, tax and the obr: all Public finances, tax and the OBR questions.