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OBR · Historical official forecasts database

Debt forecasts, per cent of GDP

Year ending March 2025 Final

93.2%per cent of GDP

Debt forecasts, per cent of GDP was 93.2% in the year ending March 2025, down 1.0 percentage point from 94.2% in the year ending March 2024.

▼ 1.1% · −1% against Year ending March 2024 (previous period)

  1. OBR rate
  2. Year ending March 2025
  3. published 26 March 2026
  4. PSND
  5. row “Outturn data*”
  6. column “2024-25”
  7. cell value 93.16136288446387

The series is near its highest recorded level. Rule: within 5% of the highest value in the 25 periods published here.

Year ending March 2001 to Year ending March 2025

Debt forecasts, per cent of GDP: Year ending March 2001 to Year ending March 2025LabourLabourLabourLabourLabourCoalitionCoalitionConservativeConservativeConservativeConservativeLabour0%25%50%75%20052010201520202025Year ending March 2001: 28.2% per cent of GDP · published 26 March 2026Year ending March 2002: 28% per cent of GDP · published 26 March 2026Year ending March 2003: 29.7% per cent of GDP · published 26 March 2026Year ending March 2004: 30.8% per cent of GDP · published 26 March 2026Year ending March 2005: 33.4% per cent of GDP · published 26 March 2026Year ending March 2006: 34.2% per cent of GDP · published 26 March 2026Year ending March 2007: 34.9% per cent of GDP · published 26 March 2026Year ending March 2008: 35.5% per cent of GDP · published 26 March 2026Year ending March 2009: 50.2% per cent of GDP · published 26 March 2026Year ending March 2010: 64.4% per cent of GDP · published 26 March 2026Year ending March 2011: 70.6% per cent of GDP · published 26 March 2026Year ending March 2012: 73.9% per cent of GDP · published 26 March 2026Year ending March 2013: 77.2% per cent of GDP · published 26 March 2026Year ending March 2014: 78.8% per cent of GDP · published 26 March 2026Year ending March 2015: 81.1% per cent of GDP · published 26 March 2026Year ending March 2016: 80.6% per cent of GDP · published 26 March 2026Year ending March 2017: 82.7% per cent of GDP · published 26 March 2026Year ending March 2018: 81.6% per cent of GDP · published 26 March 2026Year ending March 2019: 79.6% per cent of GDP · published 26 March 2026Year ending March 2020: 84.5% per cent of GDP · published 26 March 2026Year ending March 2021: 95.4% per cent of GDP · published 26 March 2026Year ending March 2022: 94.3% per cent of GDP · published 26 March 2026Year ending March 2023: 93.2% per cent of GDP · published 26 March 2026Year ending March 2024: 94.2% per cent of GDP · published 26 March 2026Year ending March 2025: 93.2% per cent of GDP · published 26 March 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 each financial year: the outturn as the OBR last knew it, with every official forecast for the same year.

What this doesn’t measure

Debt excluding the Bank of England, net financial liabilities, or the cash level of debt.

Important caveat

Each forecast vintage uses the definitions and classifications in force when it was made, so the outturn the OBR shows beside it may differ from today's ONS series after later classification changes and revisions. The outturn row is the figure as the OBR knew it at its most recent forecast, not the latest ONS estimate. Forecasts before June 2010 were produced by HM Treasury, not the OBR. Fiscal series are financial years; economy series are calendar years. A forecast is a statement of uncertainty made at the time and is stored as an estimate; a miss is not evidence of misconduct.

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
Historical official forecasts database
Release
Historical official forecasts database, March 2026, published 26 March 2026
Source file
obr-historical-forecasts-2026-03.xlsx
File SHA-256
e00b17cb7ec8dfddc4bfd4d212c1e93362147fff81d74a10480e599b26e634db
Retrieved
3 September 2026
Sheet
PSND
Table
PSND
Row
Outturn data*
Column
2024-25
Cell value
93.16136288446387
Geography
United Kingdom
Unit
per cent of GDP
API
/api/metrics/obr_forecast_psnd_gdp · /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.

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↑ 2.0%
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%

Full comparison with chart

Release
Historical official forecasts database, March 2026 · publication page
Last updated
26 March 2026
Next release expected
Not yet announced (estimated from the usual cadence)