Government gross debt in United Kingdom

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 103.6% 2027: 104.1% 2028: 103.9% 2029: 103.5% 2030: 102.9% 2031: 102.6%

40.3 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	40.3
Jan 1998	41.8
Jan 1997	43.9
Jan 1996	43.5
Jan 1995	43.5
Jan 1994	40.6
Jan 1993	37.8
Jan 1992	33.1
Jan 1991	28.4
Jan 1990	28.4

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

The UK's government debt is the total payment obligations (liabilities) that the general government owes to its creditors. It is usually expressed in absolute terms and, above all, as a share of GDP to assess its sustainability.

How it's calculated

The ONS typically measures it as public sector net debt, adding up the general government's liabilities (mainly gilts and other securities, loans and deposits) under national accounting standards. The debt-to-GDP ratio relates that stock to the size of the economy.

Market implications

A high or rising debt level weighs on the sustainability of public finances, the Treasury's funding cost (gilt yields) and the room for fiscal policy. It is a variable watched by markets and rating agencies.

Limitations

The figure is low-frequency and is revised with the national accounts. The ratio to GDP depends both on the debt stock and on nominal GDP, so it can move without any change in borrowing; the definition used (gross or net, with or without the Bank of England) also matters.