Public sector net debt excluding public sector banks hit an all-time high of GBP 2.02 trillion in August 2020. That equated to 101.9 percent of GDP, the highest as a share of the economy since the 1960-61 financial year, 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 August, there was GBP 1.72 trillion of central government gilts in circulation (including those held by the Bank of England (BoE) Asset Purchase Facility Fund).

Government Debt in the United Kingdom averaged 786.29 GBP Billion from 1975 until 2020, reaching an all time high of 2023.90 GBP Billion in August 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 October 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.

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United Kingdom Public Sector Net Debt

Actual Previous Highest Lowest Dates Unit Frequency
2023.90 1995.50 2023.90 52.10 1975 - 2020 GBP Billion Monthly
Current Prices, NSA


News Stream
UK Public Sector Net Debt Hits New Record
Public sector net debt excluding public sector banks hit an all-time high of GBP 2.02 trillion in August 2020. That equated to 101.9 percent of GDP, the highest as a share of the economy since the 1960-61 financial year, 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 August, there was GBP 1.72 trillion of central government gilts in circulation (including those held by the Bank of England (BoE) Asset Purchase Facility Fund).
2020-09-25
UK National Debt Hits £2 Trillion for 1st Time
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.
2020-08-21

United Kingdom Public Sector Net Debt
In the United Kingdom, public sector net debt excluding public sector banks (PSND ex) represents the amount of money the public sector owes to private sector organisations including overseas institutions, largely as a result of issuing gilts and Treasury Bills, minus the amount of cash and other short-term assets it holds. Public sector net debt (PSND) is often referred to by commentators as “the national debt”.