UK government debt 2023

Public sector net debt amounted to 97.2 percent of gross domestic product in the United Kingdom during the 2021/22 financial year, the highest it has been since the early 1960s. After the end of the Second World War, government debt in the UK gradually fell, before a sharp increase is visible in the late 2000s at the time of the global financial crisis.

Public sector net debt expressed as a percentage of GDP in the United Kingdom from 1900/01 to 2027/28

Characteristic	Debt as a share of GDP
2027/28*	96.9%
2026/27*	97.6%
2025/26*	99.1%
2024/25*	102.4%
2023/24*	103.1%
2022/23*	100.6%
2021/22	97.2%
2020/21	97.5%
2019/20	85%
2018/19	80.3%
2017/18	82.2%
2016/17	82.9%
2015/16	80.9%
2014/15	81.6%
2013/14	79.2%
2012/13	77.5%
2011/12	74.2%
2010/11	70.8%
2009/10	64.5%
2008/09	50.5%
2007/08	35.6%
2006/07	35.1%
2005/06	34.3%
2004/05	33.4%
2003/04	30.9%
2002/03	29.7%
2001/02	28.1%
2000/01	28.3%
1999/00	32.5%
1998/99	35.2%
1997/98	36.6%
1996/97	36.6%
1995/96	36%
1994/95	34.5%
1993/94	31.1%
1992/93	26.6%
1991/92	22.8%
1990/91	21.7%
1989/90	23%
1988/89	25.6%
1987/88	30.9%
1986/87	34.8%
1985/86	37.1%
1984/85	38.7%
1983/84	38.8%
1982/83	38.7%
1981/82	40%
1980/81	40.3%
1979/80	39.1%
1978/79	42.2%
1977/78	44.3%
1976/77	47.8%
1975/76	49.3%
1974/75	47.7%
1973/74	45.2%
1972/73	46.6%
1971/72	52.6%
1970/71	54.7%
1969/70	61.1%
1968/69	69.8%
1967/68	77%
1966/67	77.7%
1965/66	80.9%
1964/65	84.2%
1963/64	90.7%
1962/63	98.2%
1961/62	99.4%
1960/61	102.4%
1959/60	107.5%
1958/59	114.3%
1957/58	118.4%
1956/57	123.8%
1955/56	132.4%
1954/55	143.3%
1953/54	152.6%
1952/53	158.4%
1951/52	169.4%
1950/51	185.7%
1949/50	204.9%
1948/49	210.7%
1947/48	230.1%
1946/47	251.7%
1945/46	246.6%
1944/45	233.3%
1943/44	200.7%
1942/43	176.7%
1941/42	158.4%
1940/41	144%
1939/40	136.6%
1938/39	147.5%
1937/38	154.1%
1936/37	155.7%
1935/36	165.8%
1934/35	174.8%
1933/34	185.8%
1932/33	189.7%
1931/32	186%
1930/31	178.4%
1929/30	169.3%
1928/29	168.6%
1927/28	171.4%
1926/27	174.2%
1925/26	179.7%
1924/25	177%
1923/24	183.5%
1922/23	187.4%
1921/22	174.5%
1920/21	152.2%
1919/20	139.2%
1918/19	144.1%
1917/18	125.4%
1916/17	103.1%
1915/16	67.8%
1914/15	42%
1913/14	29.4%
1912/13	30.2%
1911/12	31.8%
1910/11	33.9%
1909/10	36.7%
1908/09	37.6%
1907/08	38.2%
1906/07	37.9%
1905/06	39.8%
1904/05	41.8%
1903/04	42.9%
1902/03	43%
1901/02	41%
1900/01	37.8%