Net debt was 93.3% of GDP in 2025-26. Before the pandemic, it was last as high in 1962-63
Public sector net debt as a share of GDP, UK, 1900-01 to 2030-31.
Latest figures
| Series | Period | Value |
|---|---|---|
| Public sector net debt | 2025-26 | 93.3% |
Notes
- Public sector net debt (PSND) is the public sector's borrowing, such as gilts, minus its cash and other liquid assets. It includes the Bank of England.
- Years from 1900-01 to 1973-74 use the Bank of England's historical series; later years use ONS public sector finances data, as compiled by the OBR.
Sources
More on public finances
- A salary of £32,100 pays £5,468 in income tax and National Insurance in 2026-27
- A full-time worker on typical pay of £39,863 paid 19.2% of it in income tax and National Insurance in 2025-26
- Debt interest cost 8.8p for every £1 the government raised in 2025-26
- Public spending on services was £1,228bn in 2025-26
- Income tax made up 26.7p of every £1 the public sector raised in 2025-26
- The top 1% of income tax payers paid 27.2% of all income tax in 2023-24
- The government spent 44.5% of GDP and raised 40.1% in 2025-26
- Social protection and health were the largest areas of public spending in 2025-26
- Spending on debt interest rose by £79bn after inflation between 2020-21 and 2025-26, more than any other area