The UK's government budget deficit was equivalent to 14.2 percent of the country's GDP in 2020-21 fiscal year. source: Office for Budget Responsibility, UK

Government Budget in the United Kingdom averaged -2.66 percent of GDP from 1948 until 2020, reaching an all time high of 4.80 percent of GDP in 1949 and a record low of -14.20 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 October of 2021.

Government Budget in the United Kingdom is expected to reach -10.30 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Government Budget is projected to trend around -4.40 percent of GDP in 2022 and -3.80 percent of GDP in 2023, according to our econometric models.

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United Kingdom Government Budget


United Kingdom Last Unit Reference Previous Highest Lowest
Government Debt to GDP 97.20 percent of GDP Dec/20 84.40 97.20 21.70
Government Budget -14.20 percent of GDP Dec/20 -2.60 4.80 -14.20
Government Spending to GDP 52.10 percent of GDP Dec/20 39.80 52.10 34.50


United Kingdom Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.