Trade and other liabilities

12 Months Ended

Dec. 31, 2022

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Trade and other liabilities

24. Trade and other liabilities

All figures in £ millions	2022		2021
Current
Trade payables		348		351
Sales return liability		53		83
Deferred income		340		330
Interest payable		10		42
Accruals and other liabilities		503		450
		1,254		1,256
Non-current
Deferred income		60		56
Accruals and other liabilities		60		39
		120		95

The carrying value of the Group’s trade and other liabilities approximates its fair value. The deferred income balance comprises contract liabilities in respect of advance payments in assessment, testing and training businesses; subscription income in school and college businesses; and obligations to deliver digital content in future periods. In addition to the above, there are accruals of £nil (2021: £nil) and deferred income of £nil (2021; £nil) classified as held for sale (see note 32). The increase in trade and other liabilities held by the Group is driven by an increase in accruals related to severance arising from the 2022 restructuring programme and the recognition of deferred consideration in relation to acquisitions made in 2022.