- 2020-21 Net Financing full year forecast: £20.0 billion, against the revised target of £35 billion (within a range of £30 billion to £40 billion) set in July 2020
- 2021-22 Net Financing target: £6 billion (within a range of £3 billion to £9 billion)
As included in today’s Budget, NS&I’s Net Financing forecast for 2020-21 is £20.0 billion, against the revised target of £35 billion, within a range of £30 billion to £40 billion, set in July 2020. NS&I’s original 2020-21 Net Financing target was £6 billion (within a range of £3 billion to £9 billion) and was set at the March 2020 Budget.
With uncertainty and volatility in the savings market, NS&I has experienced both upside and downside pressures on Net Financing during the year and it is now forecast to deliver a lower level of Net Financing in 2020-21.
In the 2021 Budget, it has also been confirmed that NS&I will have a 2021-22 Net Financing target of £6 billion, within a range of £3 billion to £9 billion.
Notes to Editors
- NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to 25 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
- NS&I published its unaudited quarterly results for the third quarter (October-December 2020) of the financial year 2020-21 on 21 January 2021. Net Financing for the quarter was -£9.5 billion, giving a year-to-date total of £28.8 billion, against a full year target of £35 billion, in a range of £30 billion to £40 billion.
- Net Financing – the measure of the net change of NS&I funds, meaning total inflows from deposits, retention of maturing monies and capitalised and accrued interest, less the total outflows from withdrawals and interest or Premium Bonds prize draw payments. A positive Net Financing figure represents a positive contribution to government financing.
- For further information, please contact the NS&I media team.