The Debt Management Office now forecasts a net financing requirement of £258.6bn for 2026-27, Dow Jones reports via MarketScreener. That is £7.4bn more than its April estimate of £251.2bn.
The figure sits alongside the £250.6bn of gross gilt sales the DMO plans, reported earlier today.
Reports differ on what the OBR said about the cost of servicing the debt. Brit Brief says the OBR warned borrowing costs would be £14bn a year higher this parliament. ITV and Dow Jones report £14bn of extra costs this year only. The two accounts do not match, and it has not yet been confirmed which reflects the OBR's figures.
Lale Akoner, an analyst at eToro, told Dow Jones: "Sterling and gilts' muted response suggests that the budget broadly met expectations, reassuring investors without materially changing Britain's outlook".
Matthew Ryan, head of market strategy at Ebury, told Brit Brief: "The can has been kicked, but the road is getting shorter."