NS&I delivers £7.7 billion of Net Financing to the Government in Q2 2023-24
NS&I delivered £7.7 billion of Net Financing in Q2 2023-24, giving a half-year total of £9.8 billion. The figure is part of NS&I’s latest unaudited quarterly results for the second quarter (July-September 2023) of the financial year 2023-24.
NS&I’s Net Financing target for 2023-24, set at the Spring Budget 2023, is unchanged, at £7.5 billion (+/- £3 billion). NS&I’s overall Net Financing performance for 2023-24 will be announced as part of its annual results in the summer of 2024.
Unaudited Q1 and Q2 2023-24 results (1 April – 30 September 2023)
| Qtr / year | Gross inflows (including reinvestments) £bn | C&AIP* £bn | Gross outflows £bn | Net Financing £bn | Total stock (as at 30 September) £bn
|
Q2 2023-24 (unaudited) | 27.4** | 2.1** | 21.5** | 7.7*** | 228.5** |
Q1 2023-24 (unaudited) | 13.9** | 2.0** | 13.6** | 2.2*** | 220.6** |
All figures are in £ billion and are subject to rounding.
*C&AIP is capitalised and accrued interest and prizes earned. All figures are in £ billion and subject to rounding.
**Including Green Savings Bonds.
***Excluding Green Savings Bonds.
NS&I financial results 2018-19 to 2022-23
| Year | Gross inflows (including reinvestments) £bn
| C&AIP* £bn
| Gross outflows £bn | Net Financing £bn | Total stock (as at 31 March) £bn |
| 2022-23 | 53.7** | 5.5** | 48.6** | 10.0*** | 218.3** |
| 2021-22 | 44.9** | 2.5** | 42.7** | 4.4*** | 207.6** |
| 2020-21 | 86.2 | 2.2 | 64.6 | 23.8 | 203.0 |
2019-20
| 38.2 | 2.6 | 29.2 | 11.6 | 179.2 |
2018-19
| 37.3 | 2.4 | 28.9 | 10.8 | 167.6 |
All figures are in £ billion and are subject to rounding.
*C&AIP is capitalised and accrued interest and prizes earned. All figures are in £ billion and subject to rounding.
**Including Green Savings Bonds.
***Excluding Green Savings Bonds.
NS&I reports quarterly on gross inflows and outflows, Net Financing and total stock. Each quarter, NS&I issues these unaudited figures and publishes its Annual Report and audited accounts each financial year. Net Financing excludes Green Savings Bonds as they are a policy product.
Net Financing is 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.
Notes to Editors
- NS&I is one of the largest savings organisations in the UK, offering a range of savings and investments to more than 24 million customers. All products offer 100% capital security, because NS&I is backed by HM Treasury.
- NS&I’s 2022-23 Annual Report and Accounts was published on 29 June 2023 and can be downloaded here.
- For further information, please contact the NS&I media team.