Government borrowing, debt and debt interest: historical statistics and forecasts
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1 BRIEFING PAPER Number 5745, 22 January 216 Government borrowing, debt and debt interest: historical statistics and forecasts Public sector net borrowing, % GDP -4 By Matthew Keep Inside: 1. Borrowing, debt and debt interest: Charts 2. Borrowing, debt and debt interest: Table Public sector net debt, % GDP / /8 1984/ /9 1994/ / 24/5 29/1 214/15 219/2 Debt interest payments, % GDP intranet.parliament.uk/commons-library
2 Number 5745, 3 November Contents Summary and introduction 3 1. Borrowing, debt and debt interest: Charts 4 2. Borrowing, debt and debt interest: Table 5
3 3 Government borrowing, debt and debt interest: historical statistics and forecasts Summary and introduction This is a purely statistical note on public sector borrowing (the budget deficit), public sector debt and government debt interest payments. The charts below show public sector net borrowing, public sector net debt and debt interest payments. The data are in the table below the charts. Outturn figures from the Office for National Statistics (ONS) and the latest Office for Budget Responsibility (OBR) forecasts are shown. Please note that the borrowing and interest payments charts start in 1955/56 but the debt chart covers a shorter time period, starting in 1974/75. All data after 214/15 are forecasts from the Office for Budget Responsibility (OBR). OBR forecasts not comparable with ONS outturn figures The OBR updated its forecasts for the public finances on 25 November. The OBR s revised forecasts include the ONS s decision to reclassify housing associations from the private sector to the public sector. The ONS will backdate the reclassification to its outturn data early in 216. Until this is done forecasts are not comparable to past actual figures. Other Library briefings discuss borrowing and debt further: The budget deficit: a short guide provides some key definitions, whilst public finances discusses recent outturns and forecasts. The ONS Longer-term trends, Public Sector Finance includes commentary of the data displayed below, along with other elements of public sector finance. Next updates: Outturn data: Office for National Statistics. Public sector finances release, 19 February 216 Forecasts: Office for Budget Responsibility, March 216
4 Number 5745, 3 November Borrowing, debt and debt interest: Charts Public sector net borrowing, % GDP Public sector net debt, % GDP / /8 1984/ /9 1994/ / 24/5 29/1 214/15 219/2 Debt interest payments, % GDP
5 5 Government borrowing, debt and debt interest: historical statistics and forecasts 2. Borrowing, debt and debt interest: Table Public sector finance statistics Public sector net borrowing (a) Public sector net debt (a) Debt interest payments (b) billion % GDP billion % GDP billion % GDP 1946/ / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /
6 Number 5745, 3 November Public sector finance statistics/forecasts Public sector net borrowing (a) Public sector net debt (a) Debt interest payments (b) billion % GDP billion % GDP billion % GDP 1987/ / / / / / / / / / / / / / / / / / / / / / / / , / , / , / , / , /16 (c) , /17 (c) , /18 (c) , /19 (c) , /2 (c) , /21 (c) , Sources: Office for National Statistics and Office for Budget Responsibility Note: (a) borrowing & debt figures exclude public sector banks (b) central government gross debt interest payments (c) OBR forecasts include the decision to move housing associations to the public sector. This change is not included in the outturn data, so forecasts are not comparable with outturns
7 BRIEFING PAPER Number 5745, 3 November 215 The House of Commons Library research service provides MPs and their staff with the impartial briefing and evidence base they need to do their work in scrutinising Government, proposing legislation, and supporting constituents. As well as providing MPs with a confidential service we publish open briefing papers, which are available on the Parliament website. Every effort is made to ensure that the information contained in these publically available research briefings is correct at the time of publication. Readers should be aware however that briefings are not necessarily updated or otherwise amended to reflect subsequent changes. If you have any comments on our briefings please papers@parliament.uk. Authors are available to discuss the content of this briefing only with Members and their staff. If you have any general questions about the work of the House of Commons you can hcinfo@parliament.uk. Disclaimer - This information is provided to Members of Parliament in support of their parliamentary duties. It is a general briefing only and should not be relied on as a substitute for specific advice. The House of Commons or the author(s) shall not be liable for any errors or omissions, or for any loss or damage of any kind arising from its use, and may remove, vary or amend any information at any time without prior notice. The House of Commons accepts no responsibility for any references or links to, or the content of, information maintained by third parties. This information is provided subject to the conditions of the Open Parliament Licence.
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