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 post Covid 19 world. UK’s HM Government needs to fund many new demands. [www.dmo.gov.uk]

https://dmo.gov.uk/data/pdfdatareport?reportCode=D2.1PROF7

Another deficit month, thus to bridge the gap, needs to borrow on the bond market In August 2022, 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 4 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

23-Aug-2022 0 1/8% Index-linked Treasury Gilt 2039 3 months £750.0000 Million
16-Aug-2022 0½% Treasury Gilt 2029 £2,803.5000 Million
09-Aug-2022 1¼% Treasury Gilt 2051 £1,760.0000 Million
02-Aug-2022 1% Treasury Gilt 2032 £2,771.8750 Million

£750.0000 Million + £2,803.5000 Million + £1,760.0000 Million + £2,771.8750 Million = £8,085.375 Million

£8,085.375 Million = £8.085375 Billion

On another way of looking at it, is in the 31 days in August 2022, HM Government borrowed:- £260.81854838709677419354838709677 Million each day for the 31 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 maturing from 2029 to 2051. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together……”