Public sector net debt amounted to 95.8 percent of gross domestic product in the United Kingdom during the 2024/25 financial year, or 90 percent when the Bank of England is excluded. UK government debt is at its highest levels since the early 1960s, due to a significant increase in borrowing during the COVID-19 pandemic. After peaking at 251.7 percent shortly after the end of the Second World War, government debt in the UK gradually fell, before a sharp increase in the late 2000s at the time of the global financial crisis. Debt not expected to start falling until 2029/30 In 2024/25, the UK's government expenditure was approximately 1.28 trillion pounds, around 44.7 percent of GDP. This spending was financed by 1.13 trillion pounds of revenue raised, and 151 billion pounds of borrowing. Although the UK government can still borrow money in the future to finance its spending, the amount spent on debt interest has increased significantly recently. Recent forecasts suggest that while the debt is eventually expected to start declining, this is based on falling government deficits in the next five years. Government facing hard choices Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books from the current government, and the possibility for either spending cuts or tax rises. Although Labour ruled out raising the main government tax sources, Income Tax, National Insurance, and VAT, at the 2024 election, they did raise National Insurance for employers (rather than employees) and also cut Winter Fuel allowances for large numbers of pensioners. Less than a year after implementing cuts to Winter Fuel, the government performed a U-Turn on the issue, and will make it widely available by the winter of 2025.

The United Kingdom recorded a Government Debt to GDP of 95.90 percent of the country's Gross Domestic Product in 2024. This dataset provides - United Kingdom Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about United Kingdom Government Debt: % of GDP

• United Kingdom Government debt accounted for 101.1 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 100.9 % in the previous quarter.
• UK government debt to GDP ratio data is updated quarterly, available from Mar 1966 to Sep 2024.
• The data reached an all-time high of 107.5 % in Mar 2021 and a record low of 28.3 % in Dec 1990.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Office of National Statistics provides Government Debt in local currency. The Office for National Statistics provides Nominal GDP in local currency.


Related information about United Kingdom Government Debt: % of GDP

• In the latest reports, UK National Government Debt reached 3,810.9 USD bn in Sep 2024.
• The country's Nominal GDP reached 786.4 USD bn in Mar 2023.

La deuda neta del sector público con respecto al PIB en el Reino Unido aumentó al 96,40 por ciento del PIB en agosto desde el 96,20 por ciento del PIB en julio de 2025. Esta página incluye un gráfico con datos históricos para la Deuda Neta del Sector Público del Reino Unido como porcentaje del PIB.

The ratio of national debt to gross domestic product (GDP) of the United Kingdom amounted to about 101.23 percent in 2024. From 1980 to 2024, the ratio rose by approximately 58.71 percentage points, though the increase followed an uneven trajectory rather than a consistent upward trend. Between 2024 and 2030, the ratio will rise by around 4.83 percentage points, showing an overall upward trend with periodic ups and downs.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Government debt in the United Kingdom reached over 2.8 trillion British pounds in 2024/25, compared with 2.69 trillion pounds in the previous financial year. Although debt has been increasing throughout this period, there is a noticeable jump between 2019/20, and 2020/21, when debt increased from 1.82 trillion pounds, to 2.15 trillion. The UK's government debt was the equivalent of 95.8 percent of GDP in 2024/25, and is expected to increase slightly in coming years, and not start falling until the end of this decade. Public finances in a tight spot With government debt approaching 100 percent of GDP, the UK finds itself in a tricky fiscal situation. If the UK can't reduce it's spending, or increase its revenue, the government will have to continue borrowing large amounts, increasing the debt further. Adding to the problem, is the fact that financing this debt has got steadily more expensive recently, with the government currently spending more on debt interest than it does on defence, transport, and public order and safety. Can the UK grow out its debt? After the Second World War, when the national debt reached over 250 percent of GDP, the UK managed to reduce its debt-to-GDP ratio, due to the economy growing faster than its debt over a long period of time. This is certainly the hope of the current Labour government, who are seeking to avoid significant tax and spending adjustments by strengthening the economy. Overdue investments in infrastructure and increased capital spending may eventually achieve this goal, but the government's declining popularity suggests they may not be in power by the time these policies might eventually bear fruit.

Key information about United Kingdom Total Debt: % of GDP

• United Kingdom Total Debt accounted for 872.5 % of the country's GDP in 2024, compared with the ratio of 878.1 % in the previous quarter.
• UK Total Debt: % of GDP data is updated quarterly, available from Mar 1987 to Sep 2024.
• The data reached an all-time high of 1,236.1 % in Sep 2011 and a record low of 517.3 % in Dec 1988.

CEIC calculates quarterly Total Debt as % of Nominal GDP from quarterly Total Debt and quarterly Nominal GDP. Total Debt is calculated as Total Liabilities less Equity & Investment Fund Shares and Financial Derivatives. Office for National Statistics provides Total Debt in local currency and Nominal GDP in local currency.

Key information about United Kingdom External Debt: % of GDP

• United Kingdom External Debt accounted for 277.2 % of the country's Nominal GDP in 2023, compared with the ratio of 288.8 % in the previous year.
• UK External Debt: % of Nominal GDP data is updated yearly, available from Dec 1987 to Dec 2023.
• The data reached an all-time high of 395.1 % in Dec 2008 and a record low of 116.0 % in Dec 1987.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and quarterly Nominal GDP. Office for National Statistics provides External Debt in local currency and Nominal GDP in local currency.


Related information about United Kingdom External Debt: % of GDP

• In the latest reports of UK, Current Account recorded a deficit of 13.1 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) fell by 8.6 USD bn in Sep 2024.
• UK Direct Investment Abroad fell by 7.0 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 2.8 USD bn in Sep 2024.
• The country's External Debt reached 10,527,772.5 in Sep 2024.
• The country's Nominal GDP was reported at 786.4 USD bn in Mar 2023.

Households Debt in the United Kingdom decreased to 75.90 percent of GDP in the first quarter of 2025 from 76.30 percent of GDP in the fourth quarter of 2024. This dataset provides - United Kingdom Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Household Debt to GDP for United Kingdom (HDTGPDGBQ163N) from Q4 2008 to Q1 2025 about United Kingdom, debt, households, and GDP.

Central government debt, total (% of GDP) in United Kingdom was reported at 139 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. United Kingdom - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on October of 2025.

This statistic shows the national debt of the United Kingdom from 2020 to 2024, with projections up until 2030. In 2024, the national debt in the United Kingdom was about 3.91 trillion U.S. dollars. Reduction of the national debt and recovery of the economy in the UK The debt of the United Kingdom, which amounted to around 1,600 billion pounds in 2014 - more than it has ever been - is projected to keep rising. Since the economic recession of 2007-08, economic growth in the United Kingdom has been slow, but it has been able to recover. In 2014, the United Kingdom recorded a 2.8 percent growth rate. Many believe that if the economy is stable, the government will reduce spending and not accrue any more debt, and it can indeed be seen that while government spending continues to increase, the gap between spending and revenue is projected to get smaller. If the government were to earn more than it spends, it could use the money left over to pay the national debt and start to reduce it. However, what is even more important is the size of the debt in relation to the size of the country's economy; if the debt grows slower than the economy, the debt to GDP ratio can still fall, despite a budget deficit. The ratio of government expenditure to GDP indicates that the economy is recovering at a faster rate than government expenditure, with the ratio decreasing significantly over the last decade and the national debt in relation to GDP being expected to decrease further as well - albeit slowly. This should help relieve concerns over the United Kingdom’s mounting debt, but for some debt reduction is just not fast enough.

United Kingdom UK: Central Government Debt: Total: % of GDP data was reported at 116.856 % in 2016. This records an increase from the previous number of 106.728 % for 2015. United Kingdom UK: Central Government Debt: Total: % of GDP data is updated yearly, averaging 44.132 % from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 116.856 % in 2016 and a record low of 29.195 % in 1991. United Kingdom UK: Central Government Debt: Total: % of GDP data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United Kingdom – Table UK.World Bank.WDI: Government Revenue, Expenditure and Finance. Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.; ; International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.; Weighted average;

Graph and download economic data for General government gross debt for United Kingdom (GGGDTAGBA188N) from 1980 to 2024 about United Kingdom, debt, gross, and government.

Historical dataset showing U.K. debt to gdp ratio by year from 1990 to 2023.

This statistic shows the general government gross consolidated debt (national debt) as a percentage of gross domestic product (GDP) in the United Kingdom (UK) from fiscal year 2000/01 to 2018/19. After 2002/03, national debt as a percentage of GDP rose continuously over the remainder of the period to a peak in 2016/17.

Private Debt to GDP in the United Kingdom decreased to 75.70 percent in 2024 from 79.30 percent in 2023. United Kingdom Private Debt to GDP - values, historical data, forecasts and news - updated on October of 2025.

Key information about United Kingdom Private Debt: % of Nominal GDP

• United Kingdom Private Debt accounted for 113.96 % of its Nominal GDP in Dec 2024, compared with a ratio of 116.11 % in the previous quarter
• UK Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Jun 1998 to Dec 2024, with an average share of 135.26 %
• The data reached an all-time high of 203.16 % in Mar 2010 and a record low of 101.90 % in Dec 1998

CEIC calculates quarterly Private Debt as % of Nominal GDP from monthly Private Debt and quarterly Nominal GDP. Private Debt is calculated as the sum of Private Loans and Private Securities in GBP and Foreign Currency. The Bank of England provides Private Debt in local currency. Office for National Statistics provides Nominal GDP in local currency. Private Debt includes Financial Sector.

Historical dataset showing British Virgin Islands debt to gdp ratio by year from N/A to N/A.

The government of the United Kingdom borrowed approximately ****percent worth of its GDP in the 2024/25 financial year, compared with ****percent in 2023/24. In 2020/21, government borrowing reached *****percent of GDP, due to increased financial support to public services during the COVID-19 pandemic, combined with reduced revenue because of societal lockdowns.