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 Sept 2023, 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” 5 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

22-Aug-2023 0¾% Index-linked Treasury Gilt 2033 3 months £1,840.0250 Million
15-Aug-2023 1 1/8% Treasury Gilt 2039 £2,500.0000 Million
09-Aug-2023 3¼% Treasury Gilt 2033 £3,500.0000 Million
08-Aug-2023 0 1/8% Index-linked Treasury Gilt 2039 3 months £1,104.5000 Million
01-Aug-2023 3½% Treasury Gilt 2025 £4,000.0000 Million

£1,840.0250 Million + £2,500.0000 Million + £3,500.0000 Million + £1,104.5000 Million + £4,000.0000 Million = £12,944.525 Million

£12,944.525 Million = £12.944525 Billion

On another way of looking at it, is in the 31 days in August 2023, HM Government borrowed:- £417.56532258064516129032258064516 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 2039. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“