Net incurrence of liabilities, total (current LCU) in United Kingdom
United Kingdom: Net incurrence of liabilities, total (current LCU) was 203.14 billion current LCU in 2024. ◆ Volatile
Net incurrence of liabilities, total in United Kingdom, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
United Kingdom recorded 203.14 billion current LCU for net incurrence of liabilities, total in 2024.
That represents a change of down 7.0% on the previous year and up 58.3% over ten years.
Over the whole period, net incurrence of liabilities, total in United Kingdom peaked at 401.48 billion current LCU in 2020 and was at its lowest, -5.36 billion current LCU, in 1988.
That places United Kingdom 47th out of 136 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total (current LCU) in United Kingdom, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 304.00 million current LCU | — |
| 1973 | 2.85 billion current LCU | +838.5% |
| 1974 | 4.19 billion current LCU | +46.8% |
| 1975 | 7.53 billion current LCU | +79.9% |
| 1976 | 7.42 billion current LCU | -1.5% |
| 1977 | 13.48 billion current LCU | +81.6% |
| 1978 | 6.78 billion current LCU | -49.7% |
| 1979 | 12.47 billion current LCU | +83.9% |
| 1980 | 10.22 billion current LCU | -18.0% |
| 1981 | 9.08 billion current LCU | -11.2% |
| 1982 | 7.98 billion current LCU | -12.1% |
| 1983 | 13.99 billion current LCU | +75.4% |
| 1984 | 10.71 billion current LCU | -23.5% |
| 1985 | 10.43 billion current LCU | -2.5% |
| 1986 | 11.89 billion current LCU | +14.0% |
| 1987 | 1.78 billion current LCU | -85.1% |
| 1988 | -5.36 billion current LCU | -401.5% |
| 1989 | -3.32 billion current LCU | -37.9% |
| 1990 | -5.18 billion current LCU | +56.0% |
| 1991 | 4.91 billion current LCU | -194.7% |
| 1992 | 25.03 billion current LCU | +409.6% |
| 1993 | 45.39 billion current LCU | +81.4% |
| 1994 | 29.97 billion current LCU | -34.0% |
| 1995 | 61.67 billion current LCU | +105.8% |
| 1996 | 47.48 billion current LCU | -23.0% |
| 1997 | 39.29 billion current LCU | -17.2% |
| 1998 | 22.80 billion current LCU | -42.0% |
| 1999 | 25.38 billion current LCU | +11.3% |
| 2000 | 43.28 billion current LCU | +70.5% |
| 2001 | 11.85 billion current LCU | -72.6% |
| 2002 | 50.98 billion current LCU | +330.3% |
| 2003 | 74.07 billion current LCU | +45.3% |
| 2004 | 79.91 billion current LCU | +7.9% |
| 2005 | 85.91 billion current LCU | +7.5% |
| 2006 | 85.85 billion current LCU | -0.1% |
| 2007 | 88.47 billion current LCU | +3.0% |
| 2008 | 193.20 billion current LCU | +118.4% |
| 2009 | 258.42 billion current LCU | +33.8% |
| 2010 | 114.16 billion current LCU | -55.8% |
| 2011 | 175.80 billion current LCU | +54.0% |
| 2012 | 175.52 billion current LCU | -0.2% |
| 2013 | 96.03 billion current LCU | -45.3% |
| 2014 | 128.35 billion current LCU | +33.7% |
| 2015 | 96.15 billion current LCU | -25.1% |
| 2016 | 95.59 billion current LCU | -0.6% |
| 2017 | 90.96 billion current LCU | -4.8% |
| 2018 | 100.95 billion current LCU | +11.0% |
| 2019 | 105.99 billion current LCU | +5.0% |
| 2020 | 401.48 billion current LCU | +278.8% |
| 2021 | 245.20 billion current LCU | -38.9% |
| 2022 | 120.83 billion current LCU | -50.7% |
| 2023 | 218.52 billion current LCU | +80.8% |
| 2024 | 203.14 billion current LCU | -7.0% |
United Kingdom compared with similar countries
- United Kingdom's 203.14 billion current LCU is above the median for high income countries, which is 9.91 billion current LCU, 20.5× the median. (41 countries reporting)
- United Kingdom's 203.14 billion current LCU is above the median for Europe & Central Asia, which is 14.60 billion current LCU, 13.9× the median. (34 countries reporting)
Biggest year-on-year movements
Years where Net incurrence of liabilities, total (current LCU) in United Kingdom changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1973 | +838.5% | 304.00 million current LCU | 2.85 billion current LCU |
| 1988 | -401.5% | 1.78 billion current LCU | -5.36 billion current LCU |
| 1992 | +409.6% | 4.91 billion current LCU | 25.03 billion current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.88 billion current LCU | 304.00 million current LCU | 13.48 billion current LCU | 8 |
| 1980s | 6.74 billion current LCU | -5.36 billion current LCU | 13.99 billion current LCU | 10 |
| 1990s | 29.67 billion current LCU | -5.18 billion current LCU | 61.67 billion current LCU | 10 |
| 2000s | 97.19 billion current LCU | 11.85 billion current LCU | 258.42 billion current LCU | 10 |
| 2010s | 117.95 billion current LCU | 90.96 billion current LCU | 175.80 billion current LCU | 10 |
| 2020s | 237.83 billion current LCU | 120.83 billion current LCU | 401.48 billion current LCU | 5 |
Countries ranked near United Kingdom
More public sector data for United Kingdom
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 609.00 million SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 9.28 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0002 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 36.23 % change on previous year (2024)
Frequently asked questions
- What is net incurrence of liabilities, total in United Kingdom?
- Net incurrence of liabilities, total in United Kingdom was 203.14 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in United Kingdom?
- The highest recorded value was 401.48 billion current LCU in 2020.
- What is the lowest net incurrence of liabilities, total recorded in United Kingdom?
- The lowest recorded value was -5.36 billion current LCU in 1988.
- How does United Kingdom rank for net incurrence of liabilities, total?
- United Kingdom ranks 47th out of 136 countries with data for 2024.
- Is net incurrence of liabilities, total rising or falling in United Kingdom?
- Over the last ten years it is up 58.3%. The long-run trend across the full record is volatile.
- Where does this United Kingdom data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.