Public sector net borrowing was £14.4 billion in August 2012; this is equal to the net borrowing in August 2011. • Public sector current budget deficit was £13.2 billion in August 2012; this is a £0.4 billion higher deficit than in August 2011, when there was a deficit of £12.8 billion. • In 2011/12 public sector net borrowing was £119.3 billion; this is £6.7 billion lower than the Office for Budget Responsibility (OBR) forecasted net borrowing for 2011/12 of £126.0 billion. • Public sector net debt was £1,039.5 billion at the end of August 2012, equivalent to 66.1 per cent of gross domestic product (GDP). (full story)