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 December 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” 6 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

20-Dec-2022 0¼% Treasury Gilt 2025 £3,619.2500 Million
13-Dec-2022 1% Treasury Gilt 2032 £3,749.9990 Million
07-Dec-2022 0 1/8% Index-linked Treasury Gilt 2031 3 months £744.6500 Million
06-Dec-2022 4 1/8% Treasury Gilt 2027 £4,062.4980 Million
06-Dec-2022 1 1/8% Treasury Gilt 2039 £2,812.5000 Million
01-Dec-2022 1¼% Treasury Gilt 2051 £2,812.4990 Million

£3,619.2500 Million + £3,749.9990 Million + £744.6500 Million + £4,062.4980 Million + £2,812.5000 Million + £2,812.4990 Million = £17,801.396 Million.

£17,801.396 Million = £17.801396 Billion

On another way of looking at it, is in the 31 days in December 2022, HM Government borrowed:- £574.23858064516129032258064516129 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 bonds maturing from 2025 to 2051. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“