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.

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.

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

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 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 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.

International comparison of UK general government gross debt and general government deficit as percentage of GDP.

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.

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

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.

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.

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.

🇬🇧 영국 English Estimates of government deficit and debt data tables, given to the European Commission in accordance with the Excessive Deficit Procedure (EDP), annexed to the Maastricht Treaty.

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.

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.

The statistical significance of the mean revision to public sector finances statistics over a nine-year period.

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.

• 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.

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.