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The United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies. At the end of March 2023, UK general government gross debt was £2,537.0 billion, or 100.5% gross domestic product. [2]
English: This chart shows UK debt as a percentage of GDP (1993-2023). This chart uses data from the Office for National Statistics (ONS). This chart uses data from the Office for National Statistics (ONS).
Debt interest has grown as a proportion of government spending in the last few years as a result of rising interest rates, and increased debt due to primarily to the cost of the Covid pandemic. [10] In financial year 2018–19, debt interest was £43 billion - around 5% of total government spending [11] compared to around 10% in 2023–24.
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
The year 2024 was one for the history books, and 538's visual journalists and reporters were hard at work explaining the data behind the news with visualizations and interactives. From 538’s ...
Since autumn 2017 the United Kingdom budget typically takes place in the Autumn in order to allow major tax changes to occur annually, well before the start of the fiscal year. [2] The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year.
The national debt servicing cost is 50% more than the £5.1bn forecast by the Office for Budget Responsibility. Interest spikes UK debt to record £7.6bn in May Skip to main content
The 2024 presidential election is weeks away, and healthcare is expected to be a key issue for voters as they head to the ballot box.. The overall cost of healthcare remains a major problem ...