Public sector net debt excluding public sector banks crossed the GBP 2.0 trillion mark for the first time in July 2020, as the government stepped up efforts to support the economy hit by the pandemic. Gilts made up the largest component of debt. At the end of July there were GBP 1.68 trillion of central government gilts in circulation (including those held by the Bank of England Asset Purchase Facility Fund). There has been a substantial month-on-month increase in gilts issuance (at nominal value) in the current financial year, partially reflecting the need for extra funding to support the government’s coronavirus relief schemes and to compensate for the fall in tax revenue.
Government Debt in the United Kingdom averaged 784.45 GBP Billion from 1975 until 2020, reaching an all time high of 2004 GBP Billion in July of 2020 and a record low of 52.10 GBP Billion in March of 1975. This page provides the latest reported value for - United Kingdom Public Sector Net Borrowing - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Public Sector Net Debt - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Office for National Statistics
Government Debt in the United Kingdom is expected to be 2200.00 GBP Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Debt in the United Kingdom to stand at 2110.00 in 12 months time. In the long-term, the United Kingdom Public Sector Net Debt is projected to trend around 2010.00 GBP Billion in 2021 and 2200.00 GBP Billion in 2022, according to our econometric models.