Public sector net debt● Official
£3.0050tnEnd of September 2026 · 94% of GDP
◐ Modelled trajectory · nowSource baseline + forecast pathIllustrative, rounded to £1m
01 / Public money
The Ledger
Explore the public finances, drill into expenditure and examine disclosed funding allocations. Every figure retains its date, definition and source.
The public finances & the public record
The State of Britain.
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Public spending◐ Modelled
£44,996/secTotal managed expenditure
£1,419.0bnOBR annual forecast · 2026/27
Debt interest◐ Modelled
£3,469/secCentral government · net of APF
£109.4bnOBR annual forecast · 2026/27
Public borrowing◐ Modelled
£3,662/secPublic sector net borrowing
£115.5bnOBR annual forecast · 2026/27
Moving figures apply a uniform rate to a dated forecast. They are modelled equivalents, not measurements of spending as it happens.
How is this calculated?While you have been on this page00:00Time since this page opened
Public expenditure£0
Welfare expenditure£0
Debt interest£0
Forecast borrowing£0
◐ Modelled from OBR 2026/27 annual forecasts. Welfare and interest are included within public expenditure; do not add these counters together.
A source behind every number
Measured, forecast and modelled
are different kinds of evidence.
● Official debt / ◐ Modelled trajectory
The ONS figure is public sector net debt excluding public sector banks, measured at the end of September 2026. Publication: 2026-10-21. Source checked: 2026-11-02.
The moving trajectory adds a uniform share of the OBR’s £130.8bn forecast annual increase in net debt to this official baseline. It uses 31,536,000 seconds in the 2026/27 financial year and begins at 00:00 UTC on the first day after the ONS reference month. It is rounded to the nearest £1 million.
Borrowing is not the same as the increase in debt: financial transactions, valuation changes and timing also matter. This linear illustration does not model the monthly profile, new policy or later revisions. It is not an official nowcast. Projection stops at the end of the forecast year.
◐ Spending and elapsed-time counters
Annual forecasts are divided by 365 × 24 × 60 × 60. The elapsed-time counters multiply those rates by the time since this page opened, using your browser’s clock. Pause freezes the display; resume catches up. Start again resets the elapsed counters.
OBR 2026/27 forecasts: public spending £1,419.0bn; welfare £352.8bn; debt interest £109.4bn; borrowing £115.5bn. Debt interest is central government interest net of the Asset Purchase Facility. Expenditure is not distributed uniformly during the year.
These rates retain the March 2026 forecast vintage. They do not update when the ONS debt observation changes. Once the forecast year ends, movement stops pending a new forecast.
Original OBR publication ↗ · Download the calculation inputs (JSON) ↓
◇ Disclosed information
A disclosure is information supplied in response to an information request. Acknowledgements, refusals and pending requests are identified separately. The Docket links to the request and response so you can inspect the original words.
The Exchequer / Follow the money
Where does it all go?
Open a segment. Follow a branch. Find the source.
Forecasts & recorded spending
Select a segment or a row to explore.
Each outer ring breaks down the ring inside it.
Use the rows alongside for the same information.
How to read this wheel & reconcile the totals
Annual amounts in billions of pounds. Open each branch for the breakdown.
2026/27 forecast
OBR March 2026 forecast, with welfare detail from DWP’s consistent Spring Forecast tables. Amounts are nominal. Named residuals are Cartulary calculations, not additional official programmes. Each ring is a subdivision of its parent.
- UK public expenditure £1,419.000bn
Show breakdown
- Departmental day-to-day £548.200bn
- Welfare £352.800bn
Show breakdown
- State Pension £154.175bn
Show breakdown
- Basic State Pension £66.150bn
- New State Pension £64.812bn
- State Second Pension £19.541bn
- Graduated Retirement Benefit £1.809bn
- Protected payments £1.430bn
- Non-contributory Category D £0.243bn
- Lump-sum payments £0.188bn
- Universal Credit £87.649bn
Show breakdown
- Standard allowance £28.779bn
- Housing element £26.352bn
- Child element £15.215bn
- Health element £12.080bn
- Disabled child element £2.085bn
- Carer element £1.695bn
- Transitional element £0.853bn
- Childcare element £0.589bn
- Disability benefits £50.212bn
Show breakdown
- Personal Independence Payment £32.100bn
- Attendance Allowance £9.228bn
- Disability Living Allowance £8.884bn
- Child Benefit £13.706bn
- Other welfare £47.058bn
Show breakdown
- Pension Credit £6.055bn
- Carer’s Allowance £5.025bn
- Northern Ireland social security £10.878bn
- Housing Benefit in AME £11.643bn
- Winter Fuel Payments £1.911bn
- Statutory Maternity Pay £3.317bn
- Remaining benefits and reconciliation £8.229bn
- State Pension £154.175bn
- Other expenditure £189.700bn
Show breakdown
- Government depreciation £68.700bn
- Current VAT refunds £27.100bn
- Funded public sector pensions £20.800bn
- Environmental levies £18.900bn
- Public corporations’ capital spending £13.800bn
- Company and other tax credits £11.600bn
- Scottish Government current AME £7.900bn
- Remaining spending and adjustments £20.900bn
- Departmental investment £122.500bn
- Debt interest £109.400bn
- Locally financed expenditure £96.400bn
Show breakdown
- Locally financed current £87.400bn
- Locally financed capital £9.000bn
2025/26 by service
PESA 2026 Table 5.2: the ten functional sectors total £1,227.814bn before £0.166bn net EU receipts, producing £1,227.648bn total expenditure on services. Adding £132.474bn accounting adjustments gives £1,360.122bn TME. This outturn view has a different year and definition from the forecast. Published subtotals can differ from their components through rounding; tiny round-off differences are not artificial spending categories.
- UK public service spending £1,227.814bn
Show breakdown
- General public services £165.504bn
Show breakdown
- Executive and legislative organs, financial and fiscal affairs, external affairs £19.872bn
- Foreign economic aid £7.189bn
- General services £2.350bn
- R&D general public services £0.510bn
- General public services n.e.c. £5.279bn
- Public debt transactions, £130.305bn
Show breakdown
- Central government debt interest £96.946bn
- Local government debt interest £1.132bn
- Public corporation debt interest £0.502bn
- Bank of England £12.344bn
- Public sector pensions £19.381bn
- Defence £65.418bn
Show breakdown
- Military defence £58.171bn
- Civil defence £0.064bn
- Foreign military aid £3.999bn
- R&D defence £2.939bn
- Defence n.e.c. £0.245bn
- Public order and safety £55.720bn
Show breakdown
- Police services £31.557bn
Show breakdown
- Immigration and citizenship £4.781bn
- Other police services £26.776bn
- Fire-protection services £4.166bn
- Law courts £10.029bn
- Prisons £8.411bn
- R&D public order and safety £0.001bn
- Public order and safety n.e.c. £1.556bn
- Police services £31.557bn
- Economic affairs £93.959bn
Show breakdown
- General economic, commercial and labour affairs £17.878bn
- Agriculture, forestry, fishing and hunting £6.598bn
Show breakdown
- Market support £2.593bn
- Other agriculture, food and fisheries policy £3.724bn
- Forestry £0.281bn
- Fuel and energy £6.564bn
- Mining, manufacturing and construction £0.312bn
- Transport £48.923bn
Show breakdown
- National roads £6.128bn
- Local roads £8.111bn
- Local public transport £5.552bn
- Railway £26.479bn
- Other transport £2.653bn
- Communication £1.195bn
- Other industries £0.302bn
- R&D economic affairs £11.268bn
- Economic affairs n.e.c. £0.918bn
- Environment protection £19.157bn
Show breakdown
- Waste management £11.869bn
- Pollution abatement £2.196bn
- Protection of biodiversity and landscape £0.606bn
- R&D environment protection £0.484bn
- Environment protection n.e.c. £4.002bn
- Housing and community amenities £22.470bn
Show breakdown
- Housing development £14.866bn
Show breakdown
- Local authority housing £11.991bn
- Other social housing £2.876bn
- Community development £4.655bn
- Water supply £0.534bn
- Street lighting £1.075bn
- R&D housing and community amenities £0.009bn
- Housing and community amenities n.e.c. £1.331bn
- Housing development £14.866bn
- Health £257.542bn
Show breakdown
- Medical services £247.359bn
- Medical research £2.871bn
- Central and other health services £7.311bn
- Recreation, culture and religion £15.053bn
Show breakdown
- Recreational and sporting services £3.869bn
- Cultural services £5.364bn
- Broadcasting and publishing services £5.312bn
- Religious and other community services £0.144bn
- R&D recreation, culture and religion £0.107bn
- Recreation, culture and religion n.e.c. £0.257bn
- Education £125.721bn
Show breakdown
- Pre-primary and primary education £43.429bn
Show breakdown
- Under fives £9.621bn
- Primary education £33.808bn
- Secondary education £60.842bn
- Post-secondary non-tertiary education £1.078bn
- Tertiary education £4.641bn
- Education not definable by level £1.275bn
- Subsidiary services to education £6.960bn
- R&D education £2.626bn
- Education n.e.c. £4.870bn
- Pre-primary and primary education £43.429bn
- Social protection £407.270bn
Show breakdown
- Sickness and disability £84.330bn
Show breakdown
- Personal social services £18.059bn
- Incapacity, disability and injury benefits £66.272bn
- Old age £172.180bn
Show breakdown
- Personal social services £17.322bn
- Pensions £154.858bn
- Survivors £1.383bn
- Family and children £35.543bn
Show breakdown
- Personal social services £18.253bn
- Family benefits, income support and tax credits £17.291bn
- Unemployment £1.396bn
Show breakdown
- Other unemployment benefits £1.396bn
- Housing £14.462bn
- Social exclusion n.e.c. £86.773bn
Show breakdown
- Personal social services £2.501bn
- Family benefits, income support, Universal Credit and tax credits £84.272bn
- Social protection n.e.c. £11.201bn
- Sickness and disability £84.330bn
- General public services £165.504bn
OBR Economic and fiscal outlook — March 2026
Benefit expenditure and caseload tables — Spring Forecast 2026
PESA 2026 — Chapter 5, Table 5.2
The £100 test
The same money.
A different future.
What would today’s basket cost if the same inflation rate continued? Set an amount and explore the difference time makes.
● Official3.5%CPI annual inflation · September 2026Published 2026-10-21 · Next release 2026-11-18
ONS CPI source ↗ · Bank of England target ↗
Last successful source check: 2 Nov 2026. Checked daily; the official series is published monthly.
Enter an amount from £0 to £1 trillion and a rate from −20% to 50%.
In 10 years, the original amount would buy what — buys today.
◐ Scenario, not forecast. Assumes a constant annual rate and compounds once per year. Your personal costs may differ from the CPI basket.
Calculation and limits
Equivalent future cost = amount × (1 + annual rate ÷ 100)years. Remaining purchasing power = amount ÷ (1 + annual rate ÷ 100)years. Figures are rounded to whole pounds. No return on savings, tax or change in income is assumed.
The Ledger / Government borrowing
The price of borrowing.
Follow UK government yields at five, ten and twenty years. Compare the published record and see how financing conditions have changed.
Nominal par yields · Latest observation 29 Oct 2026.
5-year gilt yield
4.91%
-5.52 bp
Since 28 Oct 202610-year gilt yield
5.26%
-4.98 bp
Since 28 Oct 202620-year gilt yield
5.55%
-4.01 bp
Since 28 Oct 202610-year nominal par yield. The chart covers the latest year of published observations.
Read the values as a table
| Date | 5 years | 10 years | 20 years |
|---|---|---|---|
| 29 Oct 2026 | 4.9062 | 5.2589 | 5.5453 |
| 28 Oct 2026 | 4.9614 | 5.3087 | 5.5854 |
| 27 Oct 2026 | 4.9444 | 5.3046 | 5.5902 |
| 26 Oct 2026 | 4.9407 | 5.3048 | 5.5955 |
| 23 Oct 2026 | 4.9403 | 5.3152 | 5.6156 |
| 22 Oct 2026 | 4.9080 | 5.2784 | 5.5763 |
| 21 Oct 2026 | 4.9505 | 5.3337 | 5.6445 |
| 20 Oct 2026 | 4.9618 | 5.3516 | 5.6687 |
| 19 Oct 2026 | 4.9678 | 5.3740 | 5.7108 |
| 16 Oct 2026 | 4.9014 | 5.2987 | 5.6355 |
| 15 Oct 2026 | 4.9187 | 5.3092 | 5.6408 |
| 14 Oct 2026 | 4.9692 | 5.3830 | 5.7225 |
| 13 Oct 2026 | 4.9831 | 5.3928 | 5.7254 |
| 12 Oct 2026 | 4.9722 | 5.3868 | 5.7288 |
| 9 Oct 2026 | 4.9737 | 5.3993 | 5.7484 |
| 8 Oct 2026 | 4.9938 | 5.4292 | 5.7871 |
| 7 Oct 2026 | 4.9428 | 5.3852 | 5.7580 |
| 6 Oct 2026 | 4.8999 | 5.3368 | 5.6997 |
| 5 Oct 2026 | 4.9311 | 5.3634 | 5.7371 |
| 2 Oct 2026 | 4.8917 | 5.3341 | 5.6879 |
What these yields measure, sources and updates
A par yield estimates the coupon rate at which a hypothetical gilt of that maturity would trade at face value. These are the Bank of England’s fitted nominal par series IUDSNPY (5 years), IUDMNPY (10 years) and IUDLNPY (20 years), derived using its Variable Roughness Penalty model. They are not a named bond’s price or redemption yield, zero-coupon spot rates, or the interest rate paid on all outstanding government debt.
Figures are annual percentages. One basis point (bp) is 0.01 percentage points. The cards compare the latest dated row with the previous available observation and state that comparison date. Weekends and non-publication days are not filled with zero; an unavailable observation remains blank.
The Database normally publishes daily observations after one or two working days, with possible delays. A scheduled background check runs daily; visitors read a saved local snapshot. Source revisions are included after validation. Failed or incomplete downloads retain the last verified record. Provisional source values are included.
Saved record verified: 2 Nov 2026 15:21 UTC. Last automatic check: 2 Nov 2026 15:21 UTC.
Bank of England yield methodology ↗ · Official CSV download ↗ · Publication and export guidance ↗
Bank of England Database. Copyright the Governor and Company of the Bank of England. Licensed under the Open Government Licence v3.0. Source reuse terms ↗
Source dates & updates
Coverage dates and check dates mean different things. A failed check keeps the last verified record available.
CPI inflation ↗
September 2026
Daily check; monthly releaseLast check: 2 Nov 2026Saved record verified: 2 Nov 2026Source check completedPublished: 21 Oct 2026Next release: 18 Nov 2026Public sector net debt ↗
September 2026
Daily check; monthly releaseLast check: 2 Nov 2026Saved record verified: 2 Nov 2026Source check completedPublished: 21 Oct 2026Small-boat detections ↗
Through 1 Nov 2026
Hourly check; dated daily observationsLast check: 2 Nov 2026Saved record verified: 2 Nov 2026Source check completedPublished: 2 Nov 2026Licensed sponsors ↗
2 Nov 2026
Daily check of the published registerLast check: 2 Nov 2026Saved record verified: 2 Nov 2026Source check completedMPs’ financial interests ↗
Register dated 26 Oct 2026
Daily check; complete registers published togetherLast check: 2 Nov 2026Saved record verified: 30 Oct 2026New source check in progressGilt yields (nominal par) ↗
Through 29 Oct 2026
Daily check; source usually lags by 1–2 working daysLast check: 2 Nov 2026Saved record verified: 2 Nov 2026Source check completedSpending counters retain the explicitly dated March 2026 OBR forecast. School and population census maps are reviewed publication snapshots, not daily feeds. Background checks depend on the site scheduler; a recent check does not make an older source period current.
From disclosure to evidence
Victim-support funding allocations
£86,646,942£ · 2025-26
2015-162027-28
Sum of direct RASASF, devolved test funding, ring-fenced PCC funds and national remote services. Scheme coverage changes over time.
Nominal allocations in the May 2026 disclosure, not expenditure or inflation-adjusted amounts. Some funds cover domestic abuse and sexual violence together. Future financial years are allocations, not actual spending.
Source check: the 2020/21 PCC area rows sum to £2,535.30 more than the workbook’s PCC total. This chart preserves the published total. Other PCC years reconcile within 1p. Patterned bars mark allocations beyond 2025/26, covering the financial year under way at disclosure and the following year.
View all source values and extraction details
| Financial year | Combined allocation (£) | Direct RASASF allocation (£) | Devolved commissioning test (£) | Ring-fenced PCC allocation (£) | Remote services and helplines (£) |
|---|---|---|---|---|---|
| 2015-16 | 7,592,500 | 7,592,500 | 0 | 0 | 0 |
| 2016-17 | 7,200,276 | 7,200,276 | 0 | 0 | 0 |
| 2017-18 | 7,134,517 | 7,134,517 | 0 | 0 | 0 |
| 2018-19 | 7,499,083 | 7,499,083 | 0 | 0 | 0 |
| 2019-20 | 13,305,753 | 6,500,000 | 1,794,364 | 4,704,540 | 306,849 |
| 2020-21 | 30,330,101 | 12,611,634 | 3,441,912 | 13,622,405 | 654,150 |
| 2021-22 | 45,398,338 | 12,603,035 | 3,265,395 | 28,872,376 | 657,532 |
| 2022-23 | 77,285,076 | 16,196,683 | 4,442,988 | 54,471,894 | 2,173,511 |
| 2023-24 | 83,184,908 | 15,297,236 | 4,979,369 | 59,893,811 | 3,014,491 |
| 2024-25 | 86,954,810 | 15,747,499 | 5,264,062 | 62,819,433 | 3,123,816 |
| 2025-26 | 86,646,942 | 15,646,825 | 5,264,063 | 62,978,062 | 2,757,992 |
| 2026-27 | 88,614,803 | 15,959,762 | 5,369,344 | 64,255,585 | 3,030,113 |
| 2027-28 | 90,299,079 | 16,278,956 | 5,476,731 | 65,540,696 | 3,002,696 |
Extracted from the public workbook. Values are rounded for display. The four funding components reconcile to the published combined allocation. Identifying metadata is withheld from the reviewed publication copy.
Follow the source trail.
The spending explorer separates the OBR forecast from HM Treasury’s recorded spending by service. Every branch retains its period, definition and source. The original dated debt observation remains in the Evidence Library.
Contract, supplier, grant and departmental transaction collections will extend this record as they are verified.
