Public sector net financial liabilities excluding public sector banks stood at 82.3 per cent of GDP at the end of August 2026, up £108.7 billion compared with a year earlier, provisional Office for National Statistics figures show.
The UK’s public sector net financial liabilities excluding public sector banks reached £2,620.4 billion at the end of August 2026, according to data released by the Office for National Statistics on 22 September 2026. The year-on-year rise of £108.7 billion takes the measure to 82.3 per cent of GDP — a broader picture of the public sector balance sheet than the more commonly cited net debt figure.
The ONS uses net financial liabilities as a wider measure because it captures a larger range of financial assets and liabilities. Public sector banks are excluded from the calculation to avoid distorting the assessment with banking-sector balance sheets that would otherwise skew the overall picture.
Month-on-month, the figures actually moved in a more favourable direction. The July 2026 estimate was £2,657.7 billion — equivalent to 83.7 per cent of GDP and £127.2 billion higher than a year earlier. So by August, both the headline total and the year-on-year gap had narrowed.
All August 2026 figures are provisional. The ONS notes that public sector finance statistics are subject to revision as updated data and improved information become available. The figures do not by themselves establish what drove the year-on-year increase or point to any particular fiscal policy response.
No statement from the Government or opposition parties was identified in the available official material at the time of publication.
Source: @ONS
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