UK budget deficit and party in power. Click image to embiggen. Illustration: Mark McCormick/Finbarr Sheehy for the Guardian

Deficit, national debt and government borrowing - how has it changed since 1946?

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How bad is the deficit really? We bring you all the data going back to the 1940s
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How bad is Britain's deficit? The latest set of figures show that Britain's deficit was £2.5bn lower in April than the same month a year earlier.

The Office for National Statistics said public sector net borrowing came in at £85.1 for the 2012-13 financial year. That's a £35.8bn improvement on the £120.9bn in the previous year..

Heather Stewart writes today:

George Osborne received a boost on Wednesday with news that the deficit was £2.5bn lower in April than the same month a year earlier, boosting hopes that his plan to repair the UK's public finances is back on track.

We have the complete set of data on Government borrowing, all the way back to the 1940s. All political parties have faced their fair share of debt through the years - almost as if the economic climate has its own life independent of who is managing it.

UK public debt

What is the deficit? When the ONS talks about the deficit, they take a simple measure - the gap between what's coming into the government in taxes and receipts versus what's being spent. Most commentators look at net borrowing as the deficit figure, because it includes investment spending. It's different to the national debt - which is the total the country owes.

So last month the budget was in deficit. Here are the key facts for November - if you exclude the temporary effects of the financial interventions in the banks:

• Public sector current budget deficit was £5.6bn in April 2013; this is a £2.5bn lower deficit than in April 2012, when there was a deficit of £8.2bn.
• Public sector net borrowing (PSNB ex) was £6.3bn in April 2013; this is £25.4bn higher net borrowing than in April 2012, when net borrowing was £-19.1bn.
• For 2012/13, public sector net borrowing (PSNB ex) was £85.1bn; this is £35.8bn lower net borrowing than in 2011/12, when net borrowing was £120.9bn.
• For 2012/13, central government net cash requirement was £109.7bn; this is £16.8bn lower net cash requirement than in 2011/12, when net borrowing was £126.5bn.
• In 2012/13, public sector net borrowing and public sector current budget deficit are reduced by £6.4bn as a result of cash transfers from the Bank of England Asset Purchase Facility Fund to Government.
• In 2012/13, public sector net borrowing and public sector net investment are reduced by £28.0bn as a result of the transfer of the Royal Mail Pension Plan in April 2012.
• After removing the effects of the transfer of the Royal Mail Pension Plan and the transfers from the Bank of England Asset Purchase Facility the first 2012/13 estimate of public sector net borrowing is similar in level to last year's borrowing at £119.5bn, £1.4bn lower net borrowing than in 2011/12.
• Public sector net debt was £1,185.3bn at the end of March 2013, equivalent to 75.2% of gross domestic product (GDP).

The ONS data below shows monthly, quarterly and annual debt and deficit - what can you do with it?