About this data
- Financial year April 2025 to March 2026. Receipts, borrowing and total spending are OBR's figures (consistent with ONS's public sector finances of September 2026); the split of spending by function is HM Treasury's, published in July 2026.
- Receipts are public sector current receipts. Taxes are all taxes in the National Accounts, including National Insurance, council tax and business rates. Non-tax receipts are mainly interest and dividends, and the operating surplus of public bodies (including depreciation).
- Borrowing is public sector net borrowing: the gap between total spending and receipts.
- Public spending is total managed expenditure (TME): all spending by central government, local government and public corporations, including investment, benefits and debt interest.
- Accounting adjustments are parts of total spending that HM Treasury doesn't allocate to a function, such as depreciation and some pension and tax-credit adjustments (£132.5 billion in PESA). Here they also include revisions to total spending since PESA was published (£5.5 billion).
- Debt interest is all 'public debt transactions': central, local government and public corporation debt interest, the Bank of England's net costs, and the interest on public service pension schemes' liabilities.
- Social protection includes pensions, benefits and social care. 'Other taxes' includes vehicle excise duty, air passenger duty, insurance premium tax, the apprenticeship levy, the BBC licence fee and environmental levies.
This chart appears in Public spending.