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ONS · Public sector finances time series (PUSF)

Public sector net debt as a share of GDP

July 2026 Final

94.1%

Public sector net debt as a share of GDP was 94.1% in July 2026, down 0.8 percentage points from 94.9% in July 2025.

▼ −0.8 percentage points against July 2025 (year on year)

  1. ONS percentage
  2. July 2026
  3. published 20 August 2026
  4. HF6X
  5. row “PS: Net Debt (excluding public sector banks) as a % of GDP: NSA”
  6. column “2026 JUL”
  7. cell value 94.1

March 1993 to July 2026

Public sector net debt as a share of GDP: March 1993 to July 2026ConservativeLabourLabourLabourLabourLabourLabourCoalitionCoalitionConservativeConservativeConservativeLabour0%25%50%75%200020102020March 1993: 26.7% percent · published 20 August 2026April 1993: 27.6% percent · published 20 August 2026May 1993: 28.1% percent · published 20 August 2026June 1993: 28.1% percent · published 20 August 2026July 1993: 28.5% percent · published 20 August 2026August 1993: 28.9% percent · published 20 August 2026September 1993: 29.4% percent · published 20 August 2026October 1993: 29.3% percent · published 20 August 2026November 1993: 29.3% percent · published 20 August 2026December 1993: 29.7% percent · published 20 August 2026January 1994: 29.6% percent · published 20 August 2026February 1994: 29.9% percent · published 20 August 2026March 1994: 31.2% percent · published 20 August 2026April 1994: 31.6% percent · published 20 August 2026May 1994: 32.1% percent · published 20 August 2026June 1994: 32.5% percent · published 20 August 2026July 1994: 32.6% percent · published 20 August 2026August 1994: 32.9% percent · published 20 August 2026September 1994: 33.4% percent · published 20 August 2026October 1994: 33.4% percent · published 20 August 2026November 1994: 33.6% percent · published 20 August 2026December 1994: 33.6% percent · published 20 August 2026January 1995: 33.1% percent · published 20 August 2026February 1995: 33.6% percent · published 20 August 2026March 1995: 34.6% percent · published 20 August 2026April 1995: 34.9% percent · published 20 August 2026May 1995: 35.2% percent · published 20 August 2026June 1995: 35.5% percent · published 20 August 2026July 1995: 35.4% percent · published 20 August 2026August 1995: 35.7% percent · published 20 August 2026September 1995: 36% percent · published 20 August 2026October 1995: 35.7% percent · published 20 August 2026November 1995: 35.9% percent · published 20 August 2026December 1995: 35.7% percent · published 20 August 2026January 1996: 34.9% percent · published 20 August 2026February 1996: 35.1% percent · published 20 August 2026March 1996: 36.1% percent · published 20 August 2026April 1996: 36.2% percent · published 20 August 2026May 1996: 36.5% percent · published 20 August 2026June 1996: 36.7% percent · published 20 August 2026July 1996: 36.3% percent · published 20 August 2026August 1996: 36.7% percent · published 20 August 2026September 1996: 36.9% percent · published 20 August 2026October 1996: 36.3% percent · published 20 August 2026November 1996: 36.5% percent · published 20 August 2026December 1996: 36.7% percent · published 20 August 2026January 1997: 35.8% percent · published 20 August 2026February 1997: 35.9% percent · published 20 August 2026March 1997: 36.7% percent · published 20 August 2026April 1997: 36.9% percent · published 20 August 2026May 1997: 37.4% percent · published 20 August 2026June 1997: 38% percent · published 20 August 2026July 1997: 37.5% percent · published 20 August 2026August 1997: 37.6% percent · published 20 August 2026September 1997: 37.7% percent · published 20 August 2026October 1997: 37% percent · published 20 August 2026November 1997: 37.3% percent · published 20 August 2026December 1997: 37.2% percent · published 20 August 2026January 1998: 36.1% percent · published 20 August 2026February 1998: 35.9% percent · published 20 August 2026March 1998: 36.5% percent · published 20 August 2026April 1998: 36% percent · published 20 August 2026May 1998: 36.2% percent · published 20 August 2026June 1998: 36.6% percent · published 20 August 2026July 1998: 36.1% percent · published 20 August 2026August 1998: 36.1% percent · published 20 August 2026September 1998: 36.1% percent · published 20 August 2026October 1998: 35.3% percent · published 20 August 2026November 1998: 35.5% percent · published 20 August 2026December 1998: 35.6% percent · published 20 August 2026January 1999: 34.4% percent · published 20 August 2026February 1999: 34.4% percent · published 20 August 2026March 1999: 35.1% percent · published 20 August 2026April 1999: 34.7% percent · published 20 August 2026May 1999: 34.7% percent · published 20 August 2026June 1999: 35.1% percent · published 20 August 2026July 1999: 34.3% percent · published 20 August 2026August 1999: 34.2% percent · published 20 August 2026September 1999: 34.1% percent · published 20 August 2026October 1999: 33.1% percent · published 20 August 2026November 1999: 33% percent · published 20 August 2026December 1999: 34.2% percent · published 20 August 2026January 2000: 32.3% percent · published 20 August 2026February 2000: 31.9% percent · published 20 August 2026March 2000: 32.4% percent · published 20 August 2026April 2000: 31.6% percent · published 20 August 2026May 2000: 30.4% percent · published 20 August 2026June 2000: 30.9% percent · published 20 August 2026July 2000: 30.1% percent · published 20 August 2026August 2000: 30% percent · published 20 August 2026September 2000: 29.2% percent · published 20 August 2026October 2000: 28.5% percent · published 20 August 2026November 2000: 28.7% percent · published 20 August 2026December 2000: 29.5% percent · published 20 August 2026January 2001: 28% percent · published 20 August 2026February 2001: 27.7% percent · published 20 August 2026March 2001: 28.2% percent · published 20 August 2026April 2001: 27.8% percent · published 20 August 2026May 2001: 28.1% percent · published 20 August 2026June 2001: 28.7% percent · published 20 August 2026July 2001: 27.9% percent · published 20 August 2026August 2001: 27.9% percent · published 20 August 2026September 2001: 28% percent · published 20 August 2026October 2001: 27.5% percent · published 20 August 2026November 2001: 27.9% percent · published 20 August 2026December 2001: 28.7% percent · published 20 August 2026January 2002: 27.7% percent · published 20 August 2026February 2002: 27.4% percent · published 20 August 2026March 2002: 28% percent · published 20 August 2026April 2002: 27.7% percent · published 20 August 2026May 2002: 27.9% percent · published 20 August 2026June 2002: 28.4% percent · published 20 August 2026July 2002: 27.8% percent · published 20 August 2026August 2002: 28% percent · published 20 August 2026September 2002: 28.4% percent · published 20 August 2026October 2002: 28.3% percent · published 20 August 2026November 2002: 29% percent · published 20 August 2026December 2002: 30.1% percent · published 20 August 2026January 2003: 29% percent · published 20 August 2026February 2003: 28.9% percent · published 20 August 2026March 2003: 29.7% percent · published 20 August 2026April 2003: 29.4% percent · published 20 August 2026May 2003: 29.4% percent · published 20 August 2026June 2003: 29.7% percent · published 20 August 2026July 2003: 29.3% percent · published 20 August 2026August 2003: 29.4% percent · published 20 August 2026September 2003: 30% percent · published 20 August 2026October 2003: 29.9% percent · published 20 August 2026November 2003: 30.3% percent · published 20 August 2026December 2003: 31.2% percent · published 20 August 2026January 2004: 30% percent · published 20 August 2026February 2004: 29.9% percent · published 20 August 2026March 2004: 30.8% percent · published 20 August 2026April 2004: 31.4% percent · published 20 August 2026May 2004: 31.6% percent · published 20 August 2026June 2004: 32.4% percent · published 20 August 2026July 2004: 31.8% percent · published 20 August 2026August 2004: 31.9% percent · published 20 August 2026September 2004: 32.5% percent · published 20 August 2026October 2004: 32.2% percent · published 20 August 2026November 2004: 32.9% percent · published 20 August 2026December 2004: 34% percent · published 20 August 2026January 2005: 32.6% percent · published 20 August 2026February 2005: 32.5% percent · published 20 August 2026March 2005: 33.4% percent · published 20 August 2026April 2005: 32.9% percent · published 20 August 2026May 2005: 33.1% percent · published 20 August 2026June 2005: 33.7% percent · published 20 August 2026July 2005: 33.1% percent · published 20 August 2026August 2005: 33.3% percent · published 20 August 2026September 2005: 34% percent · published 20 August 2026October 2005: 33.5% percent · published 20 August 2026November 2005: 34% percent · published 20 August 2026December 2005: 34.9% percent · published 20 August 2026January 2006: 33.4% percent · published 20 August 2026February 2006: 33.4% percent · published 20 August 2026March 2006: 34.2% percent · published 20 August 2026April 2006: 33.9% percent · published 20 August 2026May 2006: 34.4% percent · published 20 August 2026June 2006: 35.2% percent · published 20 August 2026July 2006: 34.2% percent · published 20 August 2026August 2006: 34.4% percent · published 20 August 2026September 2006: 35.1% percent · published 20 August 2026October 2006: 34.5% percent · published 20 August 2026November 2006: 34.9% percent · published 20 August 2026December 2006: 35.7% percent · published 20 August 2026January 2007: 34.2% percent · published 20 August 2026February 2007: 33.9% percent · published 20 August 2026March 2007: 34.9% percent · published 20 August 2026April 2007: 34.6% percent · published 20 August 2026May 2007: 34.9% percent · published 20 August 2026June 2007: 35.5% percent · published 20 August 2026July 2007: 34.5% percent · published 20 August 2026August 2007: 34.8% percent · published 20 August 2026September 2007: 35.2% percent · published 20 August 2026October 2007: 34.8% percent · published 20 August 2026November 2007: 35.3% percent · published 20 August 2026December 2007: 36.1% percent · published 20 August 2026January 2008: 34.7% percent · published 20 August 2026February 2008: 34.9% percent · published 20 August 2026March 2008: 35.5% percent · published 20 August 2026April 2008: 35.6% percent · published 20 August 2026May 2008: 36.3% percent · published 20 August 2026June 2008: 37.5% percent · published 20 August 2026July 2008: 37.7% percent · published 20 August 2026August 2008: 39.4% percent · published 20 August 2026September 2008: 42.8% percent · published 20 August 2026October 2008: 43.4% percent · published 20 August 2026November 2008: 44.3% percent · published 20 August 2026December 2008: 47.6% percent · published 20 August 2026January 2009: 47.6% percent · published 20 August 2026February 2009: 48.3% percent · published 20 August 2026March 2009: 50.2% percent · published 20 August 2026April 2009: 51.3% percent · published 20 August 2026May 2009: 52.7% percent · published 20 August 2026June 2009: 54.5% percent · published 20 August 2026July 2009: 54.7% percent · published 20 August 2026August 2009: 54.8% percent · published 20 August 2026September 2009: 56% percent · published 20 August 2026October 2009: 56.3% percent · published 20 August 2026November 2009: 57.1% percent · published 20 August 2026December 2009: 60.6% percent · published 20 August 2026January 2010: 62.7% percent · published 20 August 2026February 2010: 62.9% percent · published 20 August 2026March 2010: 64.4% percent · published 20 August 2026April 2010: 64.5% percent · published 20 August 2026May 2010: 65.1% percent · published 20 August 2026June 2010: 66.1% percent · published 20 August 2026July 2010: 66.1% percent · published 20 August 2026August 2010: 66.5% percent · published 20 August 2026September 2010: 67.8% percent · published 20 August 2026October 2010: 67.8% percent · published 20 August 2026November 2010: 68.7% percent · published 20 August 2026December 2010: 70.1% percent · published 20 August 2026January 2011: 69.1% percent · published 20 August 2026February 2011: 69.4% percent · published 20 August 2026March 2011: 70.6% percent · published 20 August 2026April 2011: 70.7% percent · published 20 August 2026May 2011: 71.1% percent · published 20 August 2026June 2011: 72% percent · published 20 August 2026July 2011: 71.4% percent · published 20 August 2026August 2011: 72.2% percent · published 20 August 2026September 2011: 72.5% percent · published 20 August 2026October 2011: 72.3% percent · published 20 August 2026November 2011: 72.7% percent · published 20 August 2026December 2011: 73.8% percent · published 20 August 2026January 2012: 72.6% percent · published 20 August 2026February 2012: 72.8% percent · published 20 August 2026March 2012: 73.9% percent · published 20 August 2026April 2012: 73.6% percent · published 20 August 2026May 2012: 74% percent · published 20 August 2026June 2012: 74.9% percent · published 20 August 2026July 2012: 74.8% percent · published 20 August 2026August 2012: 74.7% percent · published 20 August 2026September 2012: 75.5% percent · published 20 August 2026October 2012: 75.8% percent · published 20 August 2026November 2012: 76.3% percent · published 20 August 2026December 2012: 77.3% percent · published 20 August 2026January 2013: 76% percent · published 20 August 2026February 2013: 76% percent · published 20 August 2026March 2013: 77.2% percent · published 20 August 2026April 2013: 77.1% percent · published 20 August 2026May 2013: 77.6% percent · published 20 August 2026June 2013: 78.1% percent · published 20 August 2026July 2013: 77.6% percent · published 20 August 2026August 2013: 77.6% percent · published 20 August 2026September 2013: 78.1% percent · published 20 August 2026October 2013: 77.8% percent · published 20 August 2026November 2013: 78.3% percent · published 20 August 2026December 2013: 79.2% percent · published 20 August 2026January 2014: 78.2% percent · published 20 August 2026February 2014: 78.3% percent · published 20 August 2026March 2014: 78.8% percent · published 20 August 2026April 2014: 78.8% percent · published 20 August 2026May 2014: 79.3% percent · published 20 August 2026June 2014: 79.9% percent · published 20 August 2026July 2014: 79.5% percent · published 20 August 2026August 2014: 79.5% percent · published 20 August 2026September 2014: 80.2% percent · published 20 August 2026October 2014: 80.3% percent · published 20 August 2026November 2014: 80.5% percent · published 20 August 2026December 2014: 81.5% percent · published 20 August 2026January 2015: 80.2% percent · published 20 August 2026February 2015: 80.3% percent · published 20 August 2026March 2015: 81.1% percent · published 20 August 2026April 2015: 80.9% percent · published 20 August 2026May 2015: 81.3% percent · published 20 August 2026June 2015: 81.8% percent · published 20 August 2026July 2015: 81.3% percent · published 20 August 2026August 2015: 81% percent · published 20 August 2026September 2015: 81.5% percent · published 20 August 2026October 2015: 81.6% percent · published 20 August 2026November 2015: 81.6% percent · published 20 August 2026December 2015: 81.7% percent · published 20 August 2026January 2016: 80.4% percent · published 20 August 2026February 2016: 80.1% percent · published 20 August 2026March 2016: 80.6% percent · published 20 August 2026April 2016: 80.7% percent · published 20 August 2026May 2016: 80.7% percent · published 20 August 2026June 2016: 80.8% percent · published 20 August 2026July 2016: 80% percent · published 20 August 2026August 2016: 80.2% percent · published 20 August 2026September 2016: 80.3% percent · published 20 August 2026October 2016: 80.6% percent · published 20 August 2026November 2016: 81.2% percent · published 20 August 2026December 2016: 82.5% percent · published 20 August 2026January 2017: 80.7% percent · published 20 August 2026February 2017: 81.5% percent · published 20 August 2026March 2017: 82.7% percent · published 20 August 2026April 2017: 82.3% percent · published 20 August 2026May 2017: 82.7% percent · published 20 August 2026June 2017: 83.4% percent · published 20 August 2026July 2017: 83.2% percent · published 20 August 2026August 2017: 83% percent · published 20 August 2026September 2017: 83.9% percent · published 20 August 2026October 2017: 82.9% percent · published 20 August 2026November 2017: 82.2% percent · published 20 August 2026December 2017: 81.7% percent · published 20 August 2026January 2018: 80.7% percent · published 20 August 2026February 2018: 81.6% percent · published 20 August 2026March 2018: 81.6% percent · published 20 August 2026April 2018: 81.9% percent · published 20 August 2026May 2018: 81.8% percent · published 20 August 2026June 2018: 82% percent · published 20 August 2026July 2018: 80.9% percent · published 20 August 2026August 2018: 81.1% percent · published 20 August 2026September 2018: 81.1% percent · published 20 August 2026October 2018: 81.1% percent · published 20 August 2026November 2018: 81.1% percent · published 20 August 2026December 2018: 81.3% percent · published 20 August 2026January 2019: 79.8% percent · published 20 August 2026February 2019: 79.7% percent · published 20 August 2026March 2019: 79.6% percent · published 20 August 2026April 2019: 79.9% percent · published 20 August 2026May 2019: 80% percent · published 20 August 2026June 2019: 80.3% percent · published 20 August 2026July 2019: 79.5% percent · published 20 August 2026August 2019: 79.3% percent · published 20 August 2026September 2019: 79.9% percent · published 20 August 2026October 2019: 81.5% percent · published 20 August 2026November 2019: 82.8% percent · published 20 August 2026December 2019: 84.2% percent · published 20 August 2026January 2020: 83.5% percent · published 20 August 2026February 2020: 83.7% percent · published 20 August 2026March 2020: 84.5% percent · published 20 August 2026April 2020: 89.6% percent · published 20 August 2026May 2020: 93.3% percent · published 20 August 2026June 2020: 95.3% percent · published 20 August 2026July 2020: 96% percent · published 20 August 2026August 2020: 97.7% percent · published 20 August 2026September 2020: 98.1% percent · published 20 August 2026October 2020: 98.1% percent · published 20 August 2026November 2020: 97.9% percent · published 20 August 2026December 2020: 97.6% percent · published 20 August 2026January 2021: 96% percent · published 20 August 2026February 2021: 96.2% percent · published 20 August 2026March 2021: 95.4% percent · published 20 August 2026April 2021: 96.1% percent · published 20 August 2026May 2021: 96.4% percent · published 20 August 2026June 2021: 95.8% percent · published 20 August 2026July 2021: 95.3% percent · published 20 August 2026August 2021: 93.9% percent · published 20 August 2026September 2021: 93.2% percent · published 20 August 2026October 2021: 95.9% percent · published 20 August 2026November 2021: 96.4% percent · published 20 August 2026December 2021: 96.2% percent · published 20 August 2026January 2022: 94.8% percent · published 20 August 2026February 2022: 94% percent · published 20 August 2026March 2022: 94.3% percent · published 20 August 2026April 2022: 93.8% percent · published 20 August 2026May 2022: 93.7% percent · published 20 August 2026June 2022: 94% percent · published 20 August 2026July 2022: 93.2% percent · published 20 August 2026August 2022: 92.9% percent · published 20 August 2026September 2022: 92.8% percent · published 20 August 2026October 2022: 92.6% percent · published 20 August 2026November 2022: 92.9% percent · published 20 August 2026December 2022: 93.1% percent · published 20 August 2026January 2023: 92.2% percent · published 20 August 2026February 2023: 92.6% percent · published 20 August 2026March 2023: 93.2% percent · published 20 August 2026April 2023: 93.2% percent · published 20 August 2026May 2023: 94.1% percent · published 20 August 2026June 2023: 94.9% percent · published 20 August 2026July 2023: 93.8% percent · published 20 August 2026August 2023: 93.9% percent · published 20 August 2026September 2023: 93.6% percent · published 20 August 2026October 2023: 94.7% percent · published 20 August 2026November 2023: 95.3% percent · published 20 August 2026December 2023: 95.6% percent · published 20 August 2026January 2024: 93.8% percent · published 20 August 2026February 2024: 94% percent · published 20 August 2026March 2024: 94.2% percent · published 20 August 2026April 2024: 93.4% percent · published 20 August 2026May 2024: 94.5% percent · published 20 August 2026June 2024: 94.5% percent · published 20 August 2026July 2024: 94.2% percent · published 20 August 2026August 2024: 94.5% percent · published 20 August 2026September 2024: 94% percent · published 20 August 2026October 2024: 94.4% percent · published 20 August 2026November 2024: 95.2% percent · published 20 August 2026December 2024: 94.8% percent · published 20 August 2026January 2025: 93% percent · published 20 August 2026February 2025: 93.4% percent · published 20 August 2026March 2025: 93.4% percent · published 20 August 2026April 2025: 93.7% percent · published 20 August 2026May 2025: 94.8% percent · published 20 August 2026June 2025: 94.5% percent · published 20 August 2026July 2025: 94.9% percent · published 20 August 2026August 2025: 95.1% percent · published 20 August 2026September 2025: 94.9% percent · published 20 August 2026October 2025: 94% percent · published 20 August 2026November 2025: 94.7% percent · published 20 August 2026December 2025: 94.3% percent · published 20 August 2026January 2026: 92.3% percent · published 20 August 2026February 2026: 92.5% percent · published 20 August 2026March 2026: 93.4% percent · published 20 August 2026April 2026: 93.7% percent · published 20 August 2026May 2026: 94.4% percent · published 20 August 2026June 2026: 94.6% percent · published 20 August 2026July 2026: 94.1% percent · published 20 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 excluding public sector banks measured against annual gross domestic product, the standard way of comparing debt across countries and decades.

What this doesn’t measure

Whether the debt is affordable, which depends on interest rates and growth as well as on the ratio.

Important caveat

Public sector finances are published monthly and revised routinely as tax and departmental data arrive; recent months are the least settled figures on this site. They exclude public sector banks. Monthly borrowing is volatile because of the timing of tax receipts and one-off transactions, so a single month rarely says much on its own.

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
ONS
Publication
Public sector finances time series (PUSF)
Release
Public sector finances, UK: July 2026, published 20 August 2026
Source file
ons_public_finances.json
File SHA-256
a9811032c4262a9f62367ff5a2e8046e7315ee30a9fd0fd1962d4fd9d4ed65ce
Retrieved
3 September 2026
Sheet
PUSF
Table
HF6X
Row
PS: Net Debt (excluding public sector banks) as a % of GDP: NSA
Column
2026 JUL
Cell value
94.1
Geography
United Kingdom
Unit
percent
API
/api/metrics/public_sector_net_debt_gdp · /series · /vintages

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 2024–94.5%June 202494.1%July 2026↓ 0.4%
Conservative 2019–202482.8%November 201994.5%June 2024↑ 14.1%
Conservative 2017–201982.7%May 201782.8%November 2019↑ 0.1%
Conservative 2015–201780.9%April 201582.7%May 2017↑ 2.2%
Coalition 2010–201564.5%April 201080.9%April 2015↑ 25.4%
Labour 2005–201032.9%April 200564.5%April 2010↑ 96.0%
Labour 2001–200528.1%May 200132.9%April 2005↑ 17.1%
Labour 1997–200136.9%April 199728.1%May 2001↓ 23.8%

Full comparison with chart

Release
Public sector finances, UK: July 2026 · publication page
Last updated
20 August 2026
Next release expected
Not yet announced (estimated from the usual cadence)