UK National Debt

Public Debt in the United Kingdom is principally the debt of the central government.

In 2005 the UK National Debt was less that £0.5 trillion. But then came the worldwide financial crisis of 2008 and subsequent recession. The National Debt increased rapidly and went over £1 trillion in 2011 and over £1.5 trillion in 2016. At the end of March 2019 the National Debt was £1.80 trillion.

In terms of Gross Domestic Product the UK National Debt in 2005 was about 38 percent of GDP.

But in the last ten years, in the wake of the Crash of 2008 and subsequent recession, the National has doubled to over 80 percent GDP, but is leveling out as a percent of GDP. At the end of March 2019 the National Debt was 84.6 percent of GDP.

Source: UKPublicSpending

 

 

 

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