Source: National Statistics Office
Latest actual data: 2020
National accounts manual used: European System of Accounts (ESA) 2010
GDP valuation: Market prices
Reporting in calendar year: Yes
Start/end months of reporting year: January/December
Base year: 2019
Chain-weighted: Yes, from before 1980
Primary domestic currency: British pound
Data last updated: 04/2022
2,280.888
2,308.182
2020
United Kingdom
General government total expenditure
National currency
Billions
Source: National Statistics Office. Data takes into account statistical revisions (including on student loans accounting) implemented on September 24, 2019, and revisions to historical data released on December 22, 2020.
Latest actual data: 2021
Notes: Note the general government variables exclude the temporary effects of financial interventions.
Fiscal assumptions: Fiscal projections are based on the latest GDP data published by the Office of National Statistics on February 11, 2022, and forecasts by the Office for Budget Responsibility from October 27, 2021. Revenue projections are adjusted for differences between the IMF staff's forecasts of macroeconomic variables (such as GDP growth and inflation) and the forecasts of these variables assumed in the authorities' fiscal projections. Projections assume that there is some additional fiscal consolidation relative to the policies announced to date starting in FY2023/24 with the goal of complying with the new fiscal rules announced at the time of the Spending Review on October 27, 2021, and to secure public debt sustainability. The IMF staff's data exclude public sector banks and the effect of transferring assets from the Royal Mail Pension Plan to the public sector in April 2012. Real government consumption and investment are part of the real GDP path, which, according to the IMF staff, may or may not be the same as projected by the UK Office for Budget Responsibility. Data are presented on a calendar year basis.
Reporting in calendar year: Yes. Annual CY data are reconstructed from quarterly data.
Start/end months of reporting year: January/December
GFS Manual used: Government Finance Statistics Manual (GFSM) 2001
Basis of recording: Accrual
General government includes: Central Government; Local Government;. The concept of "state government" and "social security funds" is not applicable to the UK.
Valuation of public debt: Nominal value
Instruments included in gross and net debt: Currency and Deposits; Securities Other than Shares; Loans;. Net debt is defined as total gross financial liabilities less liquid financial assets, where liquid assets are cash and short-term assets, which can be released for cash at short notice without significant loss
Primary domestic currency: British pound
Data last updated: 04/2022
1,050.069
1,068.111
2021
International Monetary Fund, World Economic Outlook Database April 2022
