Public sector net borrowing in the United Kingdom was estimated at 4.4% of the UK’s gross domestic product (GDP) in the 2023-24 financial year, 0.6 percentage points less than in the same twelve-month period a year ago. source: Office for Budget Responsibility, UK
The United Kingdom recorded a Government Budget deficit equal to 4.40 percent of the country's Gross Domestic Product in 2023. Government Budget in the United Kingdom averaged -2.80 percent of GDP from 1948 until 2023, reaching an all time high of 4.80 percent of GDP in 1949 and a record low of -15.10 percent of GDP in 2020. This page provides - United Kingdom Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Government Budget - values, historical data and charts - was last updated on September of 2024.
The United Kingdom recorded a Government Budget deficit equal to 4.40 percent of the country's Gross Domestic Product in 2023. Government Budget in the United Kingdom is expected to reach -3.00 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Government Budget is projected to trend around -2.70 percent of GDP in 2025 and -2.30 percent of GDP in 2026, according to our econometric models.
United Kingdom Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| -4.40 | -5.00 | 4.80 | -15.10 | 1948 - 2023 | percent of GDP | Yearly |
