Latest figures

• This is the first estimate of May 2014 (financial year 2014/15). Estimates for the financial year 2013/14 have also been updated. Both estimates will continue to be revised as more data becomes available.
• For the financial year 2013/14 public sector net borrowing excluding the temporary effects of financial interventions, the transfer of the Royal Mail Pension Plan and the transfers from the Bank of England Asset Purchase Facility Fund was £107.0 billion. This was £8.1 billion lower than the same period in 2012/13, when it was £115.1 billion.
• During the financial year 2013/14, £31.1 billion was transfered from the Bank of England Asset Purchase Facility Fund to HM Treasury. Of this amount, £12.2 billion impacted on net borrowing.
• For the financial year 2013/14, public sector net borrowing excluding temporary effects of financial interventions (PSNB ex) was £94.9 billion. This was £14.2 billion higher than in 2012/13, when it was £80.7 billion.
• In May 2014, public sector net borrowing excluding the temporary effects of financial interventions, the transfer of the Royal Mail Pension Plan and the transfers from the Bank of England Asset Purchase Facility Fund was £13.3 billion. This was £0.7 billion higher than in May 2013, when it was £12.6 billion.
• In May 2014, there were no transfers from the Bank of England Asset Purchase Facility Fund to HM Treasury. In May 2013, £3.9 billion was transferred which impacted on net borrowing. May 2013 was also affected by receipts from the Swiss Tax agreement which totalled £0.9 billion.
• In May 2014, public sector net borrowing excluding temporary effects of financial interventions (PSNB ex) was £13.3 billion. This was £4.6 billion higher than in May 2013, when it was £8.7 billion.
• The central government net cash requirement for the financial year 2013/14 was £75.4 billion, £29.6 billion lower than in 2012/13, when it was £105.0 billion.
• At the end of May 2014, Public sector net debt excluding temporary effects of financial interventions (PSND ex) was £1,284.5 billion, equivalent to 76.1% of gross domestic product (GDP).
• While the headline numbers presented continue to be on an ESA 1995 basis, this months bulletin includes tables presenting the impact of changes related to the implementation of ESA 2010 methods and the PSF review, which will take place in September 2014.