Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Now we are in a Covid 19 world. UK’s HM Government needs to fund many new demands. [www.dmo.gov.uk]

https://www.dmo.gov.uk/dmo_static_reports/Gilt%20Operations.pdf

Another deficit month, thus to bridge the gap, needs to borrow on the bond market In June 2021, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement. There were “only” 9 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

23-Jun-2021 0 1/8% Index-linked Treasury Gilt 2065 3 months £500.0000 Million
16-Jun-2021 0 5/8% Treasury Gilt 2035 £3,118.7500 Million
15-Jun-2021 0 1/8% Treasury Gilt 2028 £3,055.2810 Million
15-Jun-2021 1¼% Treasury Gilt 2051 £2,000.0000 Million
09-Jun-2021 0 1/8% Index-linked Treasury Gilt 2031 3 months £1,172.4380 Million
08-Jun-2021 0 3/8% Treasury Gilt 2026 £3,742.4970 Million
08-Jun-2021 1 5/8% Treasury Gilt 2071 £1,562.5000 Million
02-Jun-2021 0¼% Treasury Gilt 2031 £3,437.4990 Million
02-Jun-2021 0 7/8% Treasury Gilt 2046 £2,500.0000 Million

Thus:-

£500.0000 Million + £3,118.7500 Million + £3,055.2810 Million + £2,000.0000 Million + £1,172.4380 Million + £3,742.4970 Million + £1,562.5000 Million + £3,437.4990 Million + £2,500.0000 Million= £21,088.965 Million

£21,088.965 Million = £21.088965 Billion

On another way of looking at it, is in the 30 days in Jun 2021, HM Government borrowed:- £702.9655 Million each day for the 30 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature from 2028 through to 2071. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together….”