Civometry

OBR · Public finances databank

National debt since 1900, per cent of GDP

Year ending March 2031 Estimate

95.1%per cent of GDP

National debt since 1900, per cent of GDP was 95.1% in the year ending March 2031, down 1.0 percentage point from 96.1% in the year ending March 2030.

▼ 1.1% · −1% against Year ending March 2030 (previous period)

  1. OBR rate
  2. Year ending March 2031
  3. published 27 August 2026
  4. Key public finances data since 1900
  5. row “2030-31”
  6. column “Public sector net debt (PSND)”
  7. cell value 95.05096430004195

Year ending March 1901 to Year ending March 2031

National debt since 1900, per cent of GDP: Year ending March 1901 to Year ending March 2031ConservativeConservativeConservativeConservativeLabourLabourLabourCoalitionConservativeConservativeConservativeLabour0%100%200%1910192019301940195019601970198019902000201020202030Year ending March 1901: 37.8% per cent of GDP · published 27 August 2026Year ending March 1902: 41% per cent of GDP · published 27 August 2026Year ending March 1903: 43% per cent of GDP · published 27 August 2026Year ending March 1904: 42.9% per cent of GDP · published 27 August 2026Year ending March 1905: 41.8% per cent of GDP · published 27 August 2026Year ending March 1906: 39.8% per cent of GDP · published 27 August 2026Year ending March 1907: 37.9% per cent of GDP · published 27 August 2026Year ending March 1908: 38.2% per cent of GDP · published 27 August 2026Year ending March 1909: 37.6% per cent of GDP · published 27 August 2026Year ending March 1910: 36.7% per cent of GDP · published 27 August 2026Year ending March 1911: 33.9% per cent of GDP · published 27 August 2026Year ending March 1912: 31.8% per cent of GDP · published 27 August 2026Year ending March 1913: 30.2% per cent of GDP · published 27 August 2026Year ending March 1914: 29.4% per cent of GDP · published 27 August 2026Year ending March 1915: 42% per cent of GDP · published 27 August 2026Year ending March 1916: 67.8% per cent of GDP · published 27 August 2026Year ending March 1917: 103.1% per cent of GDP · published 27 August 2026Year ending March 1918: 125.4% per cent of GDP · published 27 August 2026Year ending March 1919: 144.1% per cent of GDP · published 27 August 2026Year ending March 1920: 139.2% per cent of GDP · published 27 August 2026Year ending March 1921: 152.2% per cent of GDP · published 27 August 2026Year ending March 1922: 174.5% per cent of GDP · published 27 August 2026Year ending March 1923: 187.4% per cent of GDP · published 27 August 2026Year ending March 1924: 183.5% per cent of GDP · published 27 August 2026Year ending March 1925: 177% per cent of GDP · published 27 August 2026Year ending March 1926: 179.6% per cent of GDP · published 27 August 2026Year ending March 1927: 174.2% per cent of GDP · published 27 August 2026Year ending March 1928: 171.4% per cent of GDP · published 27 August 2026Year ending March 1929: 168.6% per cent of GDP · published 27 August 2026Year ending March 1930: 169.3% per cent of GDP · published 27 August 2026Year ending March 1931: 178.3% per cent of GDP · published 27 August 2026Year ending March 1932: 186% per cent of GDP · published 27 August 2026Year ending March 1933: 189.6% per cent of GDP · published 27 August 2026Year ending March 1934: 185.8% per cent of GDP · published 27 August 2026Year ending March 1935: 174.8% per cent of GDP · published 27 August 2026Year ending March 1936: 165.8% per cent of GDP · published 27 August 2026Year ending March 1937: 155.7% per cent of GDP · published 27 August 2026Year ending March 1938: 154.1% per cent of GDP · published 27 August 2026Year ending March 1939: 147.4% per cent of GDP · published 27 August 2026Year ending March 1940: 136.6% per cent of GDP · published 27 August 2026Year ending March 1941: 143.9% per cent of GDP · published 27 August 2026Year ending March 1942: 158.4% per cent of GDP · published 27 August 2026Year ending March 1943: 176.6% per cent of GDP · published 27 August 2026Year ending March 1944: 200.7% per cent of GDP · published 27 August 2026Year ending March 1945: 233.3% per cent of GDP · published 27 August 2026Year ending March 1946: 246.6% per cent of GDP · published 27 August 2026Year ending March 1947: 251.7% per cent of GDP · published 27 August 2026Year ending March 1948: 230% per cent of GDP · published 27 August 2026Year ending March 1949: 210.6% per cent of GDP · published 27 August 2026Year ending March 1950: 204.9% per cent of GDP · published 27 August 2026Year ending March 1951: 185.6% per cent of GDP · published 27 August 2026Year ending March 1952: 169.4% per cent of GDP · published 27 August 2026Year ending March 1953: 158.4% per cent of GDP · published 27 August 2026Year ending March 1954: 152.6% per cent of GDP · published 27 August 2026Year ending March 1955: 143.3% per cent of GDP · published 27 August 2026Year ending March 1956: 132.4% per cent of GDP · published 27 August 2026Year ending March 1957: 123.8% per cent of GDP · published 27 August 2026Year ending March 1958: 118.4% per cent of GDP · published 27 August 2026Year ending March 1959: 114.2% per cent of GDP · published 27 August 2026Year ending March 1960: 107.5% per cent of GDP · published 27 August 2026Year ending March 1961: 102.4% per cent of GDP · published 27 August 2026Year ending March 1962: 99.4% per cent of GDP · published 27 August 2026Year ending March 1963: 98.2% per cent of GDP · published 27 August 2026Year ending March 1964: 90.6% per cent of GDP · published 27 August 2026Year ending March 1965: 84.2% per cent of GDP · published 27 August 2026Year ending March 1966: 80.8% per cent of GDP · published 27 August 2026Year ending March 1967: 77.7% per cent of GDP · published 27 August 2026Year ending March 1968: 77% per cent of GDP · published 27 August 2026Year ending March 1969: 69.8% per cent of GDP · published 27 August 2026Year ending March 1970: 61.1% per cent of GDP · published 27 August 2026Year ending March 1971: 54.7% per cent of GDP · published 27 August 2026Year ending March 1972: 52.6% per cent of GDP · published 27 August 2026Year ending March 1973: 46.6% per cent of GDP · published 27 August 2026Year ending March 1974: 45.2% per cent of GDP · published 27 August 2026Year ending March 1975: 47.7% per cent of GDP · published 27 August 2026Year ending March 1976: 49.3% per cent of GDP · published 27 August 2026Year ending March 1977: 47.8% per cent of GDP · published 27 August 2026Year ending March 1978: 44.3% per cent of GDP · published 27 August 2026Year ending March 1979: 42.2% per cent of GDP · published 27 August 2026Year ending March 1980: 39.1% per cent of GDP · published 27 August 2026Year ending March 1981: 40.3% per cent of GDP · published 27 August 2026Year ending March 1982: 40% per cent of GDP · published 27 August 2026Year ending March 1983: 38.6% per cent of GDP · published 27 August 2026Year ending March 1984: 38.8% per cent of GDP · published 27 August 2026Year ending March 1985: 38.6% per cent of GDP · published 27 August 2026Year ending March 1986: 37% per cent of GDP · published 27 August 2026Year ending March 1987: 34.8% per cent of GDP · published 27 August 2026Year ending March 1988: 30.9% per cent of GDP · published 27 August 2026Year ending March 1989: 25.6% per cent of GDP · published 27 August 2026Year ending March 1990: 23% per cent of GDP · published 27 August 2026Year ending March 1991: 21.6% per cent of GDP · published 27 August 2026Year ending March 1992: 22.8% per cent of GDP · published 27 August 2026Year ending March 1993: 26.6% per cent of GDP · published 27 August 2026Year ending March 1994: 31% per cent of GDP · published 27 August 2026Year ending March 1995: 34.4% per cent of GDP · published 27 August 2026Year ending March 1996: 35.9% per cent of GDP · published 27 August 2026Year ending March 1997: 36.4% per cent of GDP · published 27 August 2026Year ending March 1998: 36.5% per cent of GDP · published 27 August 2026Year ending March 1999: 35.1% per cent of GDP · published 27 August 2026Year ending March 2000: 32.4% per cent of GDP · published 27 August 2026Year ending March 2001: 28.2% per cent of GDP · published 27 August 2026Year ending March 2002: 28% per cent of GDP · published 27 August 2026Year ending March 2003: 29.7% per cent of GDP · published 27 August 2026Year ending March 2004: 30.8% per cent of GDP · published 27 August 2026Year ending March 2005: 33.4% per cent of GDP · published 27 August 2026Year ending March 2006: 34.2% per cent of GDP · published 27 August 2026Year ending March 2007: 34.9% per cent of GDP · published 27 August 2026Year ending March 2008: 35.5% per cent of GDP · published 27 August 2026Year ending March 2009: 50.2% per cent of GDP · published 27 August 2026Year ending March 2010: 64.4% per cent of GDP · published 27 August 2026Year ending March 2011: 70.6% per cent of GDP · published 27 August 2026Year ending March 2012: 73.9% per cent of GDP · published 27 August 2026Year ending March 2013: 77.2% per cent of GDP · published 27 August 2026Year ending March 2014: 78.8% per cent of GDP · published 27 August 2026Year ending March 2015: 81.1% per cent of GDP · published 27 August 2026Year ending March 2016: 80.6% per cent of GDP · published 27 August 2026Year ending March 2017: 82.7% per cent of GDP · published 27 August 2026Year ending March 2018: 81.6% per cent of GDP · published 27 August 2026Year ending March 2019: 79.6% per cent of GDP · published 27 August 2026Year ending March 2020: 84.5% per cent of GDP · published 27 August 2026Year ending March 2021: 95.4% per cent of GDP · published 27 August 2026Year ending March 2022: 94.3% per cent of GDP · published 27 August 2026Year ending March 2023: 93.2% per cent of GDP · published 27 August 2026Year ending March 2024: 94.2% per cent of GDP · published 27 August 2026Year ending March 2025: 93.4% per cent of GDP · published 27 August 2026Year ending March 2026: 93.4% per cent of GDP · published 27 August 2026Year ending March 2027: 94.8% per cent of GDP · published 27 August 2026Year ending March 2028: 95.7% per cent of GDP · published 27 August 2026Year ending March 2029: 96.3% per cent of GDP · published 27 August 2026Year ending March 2030: 96.1% per cent of GDP · published 27 August 2026Year ending March 2031: 95.1% per cent of GDP · published 27 August 2026
Published valueProvisional or revisedLatestShaded bands: governments (see labels)Hover or use arrow keys to read a value

What this measures

Public sector net debt as a share of GDP at the end of every financial year since 1900-01, as compiled by the OBR; years after the stated outturn date are the OBR's forecast.

What this doesn’t measure

Debt in cash terms, or debt excluding the Bank of England.

Important caveat

Figures for years that had ended by the date of the latest outturn stated in the workbook are official outturn as compiled by the OBR from ONS, HM Treasury and Bank of England series; later years are the OBR's forecast from its most recent Economic and fiscal outlook and are stored as estimates. The databank is only refreshed at fiscal events, so it can lag the ONS monthly public sector finances. Pre-1946 figures rely on the Bank of England's historical dataset and are less precise than modern national accounts.

Revision history

No period of this series has been revised since it was first ingested here. Revisions are recorded automatically when a later release publishes a different figure for the same period.

Source

Publisher
OBR
Publication
Public finances databank
Release
Public finances databank, August 2026, published 27 August 2026
Source file
obr-public-finances-databank-2026-08.xlsx
File SHA-256
7325eed1f5f6b245ac3e167cd427cc7b042ede66e0a7374fee00f8cb4a9b20bb
Retrieved
3 September 2026
Sheet
Public finances since 1900
Table
Key public finances data since 1900
Row
2030-31
Column
Public sector net debt (PSND)
Cell value
95.05096430004195
Geography
United Kingdom
Unit
per cent of GDP
API
/api/metrics/public_sector_net_debt_gdp_since_1900 · /series · /vintages

Related metrics

Government periods

Change during each government, from the level inherited to the last complete period before it left office. Describes the period; does not attribute cause.

Labour 2024–94.2%Year ending March 202495.1%Year ending March 2031↑ 0.9%
Conservative 2019–202479.6%Year ending March 201994.2%Year ending March 2024↑ 18.3%
Conservative 2017–201982.7%Year ending March 201779.6%Year ending March 2019↓ 3.7%
Conservative 2015–201781.1%Year ending March 201582.7%Year ending March 2017↑ 2.1%
Coalition 2010–201564.4%Year ending March 201081.1%Year ending March 2015↑ 25.9%
Labour 2005–201033.4%Year ending March 200564.4%Year ending March 2010↑ 93.0%
Labour 2001–200528.2%Year ending March 200133.4%Year ending March 2005↑ 18.2%
Labour 1997–200136.4%Year ending March 199728.2%Year ending March 2001↓ 22.4%
Conservative 1992–199722.8%Year ending March 199236.4%Year ending March 1997↑ 59.6%
Conservative 1987–199234.8%Year ending March 198722.8%Year ending March 1992↓ 34.5%
Conservative 1983–198738.6%Year ending March 198334.8%Year ending March 1987↓ 9.9%
Conservative 1979–198342.2%Year ending March 197938.6%Year ending March 1983↓ 8.5%

Full comparison with chart

Release
Public finances databank, August 2026 · publication page
Last updated
27 August 2026
Next release expected
Not yet announced (estimated from the usual cadence)