The United Kingdom recorded a Government Budget deficit equal to 4.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - United Kingdom Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the budget balance in relation to the gross domestic product (GDP) in the United Kingdom amounted to about -5.75 percent. Between 1980 and 2024, the figure dropped by approximately 2.91 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the budget balance will steadily grow by around 3.50 percentage points from 2024 to 2030.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

In 2024, the budget balance in the United Kingdom stood at about -208.37 billion U.S. dollars. Between 1980 and 2024, the figure dropped by approximately 199 billion U.S. dollars, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the budget balance will steadily grow by around 106.18 billion U.S. dollars from 2024 to 2030.

Key information about UK Consolidated Fiscal Balance: % of GDP

• United Kingdom Consolidated Fiscal Balance recorded a deficit equal to 5.3 % of its Nominal GDP in Sep 2024, compared with a deficit equal to 5.9 % in the previous quarter
• UK Consolidated Fiscal Balance to GDP data is updated quarterly, available from Mar 1987 to Sep 2024, with an average ratio of -3.5 %
• The data reached an all-time high of 2.2 % in Jun 2000 and a record low of -25.6 % in Jun 2020

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

Summary, reconciliation and revisions information on UK government deficit and debt figures by calendar and financial year.

This statistic shows the actual and forecasted current budget deficit in the United Kingdom (UK) from 2017/18 to 2023/24, as percentage of gross domestic product (GDP). The current budget is forecasted to reach -1.4 by 2023/24.

The United Kingdom recorded a government budget deficit of 17686 GBP Million in May of 2025. This dataset provides - United Kingdom Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

The United Kingdom: Fiscal balance, percent of GDP: The latest value from 2023 is -5.41 percent, a decline from -5.35 percent in 2022. In comparison, the world average is -2.83 percent, based on data from 143 countries. Historically, the average for the United Kingdom from 1960 to 2023 is -3.05 percent. The minimum value, -15.31 percent, was reached in 2020 while the maximum of 1.92 percent was recorded in 1970.

United Kingdom Central Government: Budget Deficit data was reported at -1,174.000 GBP mn in Sep 2018. This records an increase from the previous number of -2,319.000 GBP mn for Aug 2018. United Kingdom Central Government: Budget Deficit data is updated monthly, averaging -2,064.000 GBP mn from Jan 1993 (Median) to Sep 2018, with 309 observations. The data reached an all-time high of 17,443.000 GBP mn in Jan 2017 and a record low of -15,411.000 GBP mn in Apr 2013. United Kingdom Central Government: Budget Deficit data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.F005: ESA 2010: Public Sector Finances: Current Receipts and Expenditure: Central Government.

The United Kingdom: Budget balance forecast, percent of GDP: The latest value from 2030 is -2.16 percent, an increase from -2.4 percent in 2029. In comparison, the world average is -2.33 percent, based on data from 81 countries. Historically, the average for the United Kingdom from 1981 to 2030 is -3 percent. The minimum value, -7.7 percent, was reached in 2009 while the maximum of 1.33 percent was recorded in 1999.

The budget deficit in the United Kingdom was 12.8 billion British pounds in November 2021, compared with 17 billion pounds in the same month of 2020.

Key information about EU Consolidated Fiscal Balance: % of GDP

• European Union Consolidated Fiscal Balance recorded a deficit equal to 3.5 % of its Nominal GDP in Dec 2023, compared with a deficit equal to 3.2 % in the previous year
• EU Consolidated Fiscal Balance to GDP data is updated yearly, available from Dec 1995 to Dec 2023, with an average ratio of -2.7 %
• The data reached an all-time high of -0.4 % in Dec 2018 and a record low of -7.2 % in Dec 1995

• In the latest reports, EU National Government Debt reached 16,136.9 USD bn in Sep 2024
• EU Nominal GDP reached 4,430.4 USD bn in Mar 2023

Revisions to net fiscal balance revisions for each country and region of the UK.

This statistic shows the actual and forecasted current budget deficit in the United Kingdom (UK) from 2017/18 to 2023/24. The current budget deficit is forecasted to reach -1.3 percent during 2023/24.

United Kingdom GG: Current Budget Deficit data was reported at -6,885.000 GBP mn in Jun 2018. This records a decrease from the previous number of 19,747.000 GBP mn for Mar 2018. United Kingdom GG: Current Budget Deficit data is updated quarterly, averaging -119.000 GBP mn from Mar 1946 (Median) to Jun 2018, with 290 observations. The data reached an all-time high of 23,294.000 GBP mn in Mar 2017 and a record low of -39,998.000 GBP mn in Dec 2010. United Kingdom GG: Current Budget Deficit data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.F007: ESA 2010: Public Sector Finances: Transactions: General Government.

Graph and download economic data for Trade Deficit in the United Kingdom (TDFUKA) from 1816 to 2016 about budget, academic data, United Kingdom, and trade.

As of November 2021, the cumulative public sector budget deficit in the United Kingdom for the 2021/22 financial year stood at 106.2 billion British pounds, compared with 207.4 billion pounds in the same month of the 2020/21 financial year.

In 2025/26, the budgeted expenditure of the United Kingdom government is expected to be reach 1,335 billion British pounds, with the highest spending function being the 379 billion pounds expected to be spent on social protection, which includes pensions and other welfare benefits. Government spending on health was expected to be 277 billion pounds and was the second-highest spending function in this fiscal year, while education was the third-highest spending category at 146 billion pounds. UK government debt approaching 100 percent of GDP At the end of the 2024/25 financial year, the UK's government debt amounted to approximately 2.8 trillion British pounds, around 96 percent of GDP that year. This is due to the UK having to borrow money to cover its spending commitments, especially at the height of the COVID-19 pandemic, when this deficit amounted to 314.6 billion pounds. Without significant cuts to spending or tax rises, the current government is aiming to reduce this debt by creating a stronger, more productive economy. Though this is how Britain's post WW2 debt was reduced, the country faces far more structural problems to growth than it did in the mid 20th century. Income Tax the UK's main revenue source Income Tax is expected to raise approximately 329 billion British pounds in the 2025/26 financial year, and be the largest revenue source for the government that year. Value Added Tax (VAT) receipts are expected to raise 214 billion pounds, with National Insurance contributions reaching 199 billion pounds. Although National Insurance rates for employees has actually fallen recently, the rate which employers pay was one of the main tax rises announced in the Autumn 2024 budget, rising from 13.8 percent to 15 percent. Though this avoided raising tax for workers directly, many UK businesses were critical of the move, with taxation seen as the main issue facing them at the start of 2025.