United Kingdom: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| United Kingdom |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -5.41 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1960 - 2023 |
| Average | -3.05 |
| Min - Max | -15.31 - 1.92 |
| Source | Office for Budget Responsibility of United Kingdom |
The latest value from 2023 is -5.41 percent, a decline from -5.35 percent in 2022. In comparison, the world average is -2.86 percent, based on data from 142 countries. Historically, the average for the United Kingdom from 1960 to 2023 is -3.05 percent. The minimum value, -15.31 percent, was reached in 2020 while the maximum of 1.92 percent was recorded in 1970.
See the global rankings for that indicator or
use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series
Recent data
Historical series
Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 20.73 | 2023 | percent |
| Government spending, in dollars | 692.42 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -5.41 | 2023 | percent |
| Government debt | 100.60 | 2023 | percent |
| Government expenditure | 149.37 | Q3/2024 | billion |
| Long-term interest rate | 3.94 | 8/2024 | percent |
| Tax revenue | 27.30 | 2022 | percent |
| Commercial tax rate | 30.60 | 2019 | percent |
| Tax preparation time | 114 | 2019 | hours |
| Number of taxes | 9 | 2019 | taxes |
| Taxes on goods and services | 32.19 | 2022 | percent |
| Taxes on international trade | 0.66 | 2022 | percent |
| Income and profits taxes | 36.73 | 2022 | percent |