The UK recorded a budget deficit of 1.8 percent to GDP in 2018-19 fiscal year, which is expected to increase over the next financial year, as the government supports the economy amid the coronavirus pandemic.

Government Budget in the United Kingdom averaged -2.51 percent of GDP from 1948 until 2019, reaching an all time high of 4.80 percent of GDP in 1949 and a record low of -10.20 percent of GDP in 2010. 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 September of 2020. source: Office for Budget Responsibility, UK

Government Budget in the United Kingdom is expected to reach -11.00 percent of GDP by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Government Budget is projected to trend around -7.60 percent of GDP in 2021 and -3.30 percent of GDP in 2022, according to our econometric models.

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United Kingdom Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-1.80 -2.70 4.80 -10.20 1948 - 2019 percent of GDP Yearly

United Kingdom Government Last Previous Highest Lowest Unit
Government Debt to GDP 80.70 82.40 82.90 21.70 percent [+]
Government Budget -1.80 -2.70 4.80 -10.20 percent of GDP [+]
Government Budget Value -35920.00 -15441.00 11772.00 -49096.00 GBP Million [+]
Government Spending 82686.00 96136.00 100275.00 32139.00 GBP Million [+]
Government Spending to GDP 39.30 40.00 46.40 34.60 percent [+]
Government Debt 2023.90 1995.50 2023.90 52.10 GBP Billion [+]
Military Expenditure 46883.00 46433.00 56163.00 25916.00 USD Million [+]
Credit Rating 91.00 [+]
Asylum Applications 2265.00 2085.00 5170.00 1175.00 persons [+]
Government Revenues 51040.00 56571.00 81034.00 17491.00 GBP Million [+]

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.