The UK's government budget deficit was equivalent to 15 percent of the country's GDP in 2020-21 fiscal year. source: Office for Budget Responsibility, UK

Government Budget in the United Kingdom averaged -2.67 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 -15 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 July of 2022.

Government Budget in the United Kingdom is expected to reach -5.40 percent of GDP by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Government Budget is projected to trend around -3.90 percent of GDP in 2023 and -1.90 percent of GDP in 2024, according to our econometric models.

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United Kingdom Government Budget



Related Last Previous Unit Reference
Government Debt to GDP 94.00 82.70 percent of GDP Dec 2020
Government Budget -15.00 -2.40 percent of GDP Dec 2020
Government Spending to GDP 52.00 39.10 percent of GDP Dec 2020

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.
Actual Previous Highest Lowest Dates Unit Frequency
-15.00 -2.40 4.80 -15.00 1948 - 2020 percent of GDP Yearly