Latest data released by ONS - 20 March 2020

  • Prior -£10.5 billion; revised -£12.4 billion
  • PSNB (ex banks) £0.3 billion vs £0.8 billion expected
  • Prior -£9.8 billion; revised to -£11.7 billion
  • PSNCR £1.4 billion
  • Prior -£18.8 billion; revised to -£19.1 billion

The headline reading is less-than-expected, as the UK posts a slight budget deficit as opposed to a slight budget surplus for the month of February. Notably, the ex-banks borrowing was the smallest for the month of February since 2017.