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. https://www.dmo.gov.uk

Another deficit month, thus to bridge the gap, needs to borrow on the bond market in February 2025, 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” 10 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

27-Feb-2025 4 3/8% Treasury Gilt 2040 £3,092.07 Million
25-Feb-2025 1 1/8% Index-linked Treasury Gilt 2035 £1,914.91 Million
19-Feb-2025 4 3/8% Treasury Gilt 2028 4,250.00 £4,259.70 Million
18-Feb-2025 4% Treasury Gilt 2063 £1,726.72 Million
12-Feb-2025 0 5/8% Index-linked Treasury Gilt 2045 £874.09 Million
05-Feb-2025 1½% Green Gilt 2053 £947.37 Million
04-Feb-2025 4 3/8% Treasury Gilt 2030 £5,335.55 Million

£3,092.07 Million + £1,914.91 Million + £4,259.70 Million + £1,726.72 Million + £874.09 Million + £947.37 Million + £5,335.55 Million = £18,150.41 Million

£18,150.41 Million = £18.15041 Billion

On another way of looking at it, is in the 28 days Feb 2025, HM Government borrowed:- £648.2289286 Million each day for the 28 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 2028 to 2063. All long-term borrowings, we are mortgaging our futures, but at least “We Are In It Together……“