UK budget deficit 2024

The government of the United Kingdom borrowed approximately 4.2 percent worth of its GDP in the 2023/24 financial year, compared with five percent in 2022/23. In 2020/21, government borrowing reached 15.1 percent of GDP, due to increased financial support to public services during the COVID-19 pandemic, combined with reduced revenue because of societal lockdowns.

Public sector borrowing expressed as a percentage of GDP in the United Kingdom from 1900/01 to 2028/29

Characteristic	Budget deficit as a share of GDP
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Release date

March 2024

More information

Region

United Kingdom

Survey time period

1900 to 2029

Supplementary notes

*Forecast data

Citation formats

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Characteristic	Budget deficit as a share of GDP
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Characteristic	Budget deficit as a share of GDP
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Public sector borrowing expressed as a percentage of GDP in the United Kingdom from 1900/01 to 2028/29

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Statistics on " Economy of the UK "

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Statistics

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Other statistics on the topic
The UK economy

Characteristic	Budget deficit as a share of GDP
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