Public sector net debt amounted to 93.5 percent of gross domestic product in the United Kingdom during the 2024/25 financial year. Following the COVID-19 pandemic, UK government debt has reached levels not seen since the early 1960s, due to a significant increase in borrowing in 2020/21. 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 percent of GDP. This spending was financed by 1.14 trillion pounds of revenue raised, and almost 150 billion pounds of borrowing. Although the UK government can continue to borrow money to finance its spending, the amount spent on debt interest has increased significantly in recent years. Current 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 also held back on more significant cuts to welfare.

The United Kingdom recorded a Government Debt to GDP of 93.60 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.

The ratio of national debt to gross domestic product (GDP) of the United Kingdom was 101.23 percent in 2024. From 1980 to 2024, the ratio rose by 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 4.19 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 93.5 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.

Public Sector Net Debt to GDP in the United Kingdom decreased to 94.50 percent of GDP in October from 95.10 percent of GDP in September of 2025. This dataset includes a chart with historical data for the United Kingdom Public Sector Net Debt To GDP.

Key information about United Kingdom Total Debt: % of GDP

• United Kingdom Total Debt accounted for 827.7 % of the country's GDP in 2025, compared with the ratio of 836.3 % in the previous quarter.
• UK Total Debt: % of GDP data is updated quarterly, available from Mar 1987 to Jun 2025.
• The data reached an all-time high of 1,231.3 % in Sep 2011 and a record low of 515.9 % 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.

This dataset provides values for GOVERNMENT DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about United Kingdom External Debt: % of GDP

• United Kingdom External Debt accounted for 269.7 % of the country's Nominal GDP in 2024, compared with the ratio of 270.9 % in the previous year.
• UK External Debt: % of Nominal GDP data is updated yearly, available from Dec 1987 to Dec 2024.
• The data reached an all-time high of 393.3 % in Dec 2008 and a record low of 115.7 % 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 38.7 USD bn in Jun 2025.
• Foreign Direct Investment (FDI) fell by 7.4 USD bn in Jun 2025.
• UK Direct Investment Abroad expanded by 84.2 USD mn in Jun 2025.
• Its Foreign Portfolio Investment increased by 26.1 USD bn in Jun 2025.
• The country's External Debt reached 10,917,612.9 in Jun 2025.
• The country's Nominal GDP was reported at 1,029.9 USD bn in Sep 2025.

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.

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.

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;

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

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

• United Kingdom Private Debt accounted for 112.79 % of its Nominal GDP in Sep 2025, compared with a ratio of 111.94 % in the previous quarter
• UK Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Jun 1998 to Sep 2025, with an average share of 0.33 %
• The data reached an all-time high of 180.84 % in Dec 2023 and a record low of 0.00 % in Dec 1990

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.

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.

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.

Key information about United Kingdom Household Debt: % of GDP

• United Kingdom household debt accounted for 78.7 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 79.4 % in the previous quarter.
• UK household debt to GDP ratio is updated quarterly, available from Mar 1987 to Jun 2025.
• The data reached an all-time high of 107.8 % in Mar 2010 and a record low of 55.5 % in Mar 1987.

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


Related information about United Kingdom Household Debt: % of GDP

• In the latest reports, UK Household Debt reached 3,203.9 USD bn in Jun 2025.
• Money Supply M2 in UK increased 3.8 % YoY in Oct 2025.
• UK Foreign Exchange Reserves was measured at 131.6 USD bn in Oct 2025.
• The Foreign Exchange Reserves equaled 1.7 Months of Import in Sep 2025.
• UK Domestic Credit reached 5,369.5 USD bn in Aug 2025, representing an increased of 1.9 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2024, compared with the ratio of 1.0 % in the previous year.

Key information about European Union Government Debt: % of GDP

• European Union Government debt accounted for 81.9 % of the country's Nominal GDP in Jun 2025, compared with the ratio of 81.5 % in the previous quarter.
• EU government debt to GDP ratio data is updated quarterly, available from Mar 2000 to Jun 2025.
• The data reached an all-time high of 709.6 % in Jun 2020 and a record low of -41,680.0 % in Oct 2025.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. Eurostat provides Government Debt in EUR and Nominal GDP in EUR. European Union stands for EU27 excluding UK.


Related information about European Union Government Debt: % of GDP

• In the latest reports, EU National Government Debt reached 17,710.7 USD bn in Jun 2025.
• The country's Nominal GDP reached 5,301.1 USD bn in Jun 2025.

Actual value and historical data chart for United Kingdom Central Government Debt Total Percent Of GDP

In the third quarter of 2024, Greece's national debt was the highest in all the European Union, amounting to 158 percent of Greece's gross domestic product. In spite of Greece's total being high by EU standards, it marks a substantial decrease from the historical high point reached by the country's national debt of 207 percent of GDP in 2020. Italy, France, Spain, Belgium, and Portugal also all have government debt worth over one year's production of their economies, while the small Baltic country of Estonia has the smallest national debt when compared with GDP, at only 24 percent. In debitum incrementum?A country’s national debt, also known as government debt or public debt, is defined as all borrowings owed by the government of a country. It usually comprises internal debt – owed to other governmental departments – and external debt, which is held by the public and is owed to government bond owners. National debt can be caused by a struggling economy in general, or by low tax income, which usually leads to money being borrowed from other governments for support, which in turn cannot be paid back right away. At first glance, a high national debt is not always a sign of a struggling economy – but since increasing debt can slow down economic growth significantly, it is imperative for the respective government to seek a steady reduction in the long run.

Graph and download economic data for Public Sector Debt Outstanding in the United Kingdom (PSDOTUKA) from 1700 to 2016 about public, academic data, United Kingdom, sector, and debt.