Social contributions in United Kingdom
United Kingdom: Social contributions was 174.12 billion current LCU in 2024. ◆ Volatile
Social contributions in United Kingdom, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, social contributions in United Kingdom stood at 174.12 billion current LCU.
Compared with earlier readings it is down 4.2% on the previous year and up 58.2% over ten years.
Over the whole period, social contributions in United Kingdom peaked at 181.66 billion current LCU in 2023 and was at its lowest, 3.33 billion current LCU, in 1972.
That places United Kingdom 34th out of 112 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.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.94 billion current LCU | 3.33 billion current LCU | 10.45 billion current LCU | 8 |
| 1980s | 24.00 billion current LCU | 12.67 billion current LCU | 39.21 billion current LCU | 10 |
| 1990s | 49.53 billion current LCU | 40.69 billion current LCU | 59.74 billion current LCU | 10 |
| 2000s | 81.38 billion current LCU | 63.41 billion current LCU | 99.37 billion current LCU | 10 |
| 2010s | 117.38 billion current LCU | 98.53 billion current LCU | 144.65 billion current LCU | 10 |
| 2020s | 167.24 billion current LCU | 144.32 billion current LCU | 181.66 billion current LCU | 5 |
Countries ranked near United Kingdom
More public sector data for United Kingdom
- Arms imports 643.00 million SIPRI trend indicator values (2024)
- Tax revenue 26.9% (2024)
- Taxes on income, profits and capital gains 40.6% (2024)
- Taxes on goods and services 31.1% (2024)
- Net investment in nonfinancial assets 2.4% (2024)
- Net lending (+) / net borrowing (-) -6.9% (2024)
- Interest payments 8.3% (2024)
- Grants and other revenue 5.6% (2024)
- Interest payments 7.8% (2023)
- Other taxes 4.9% (2024)
Frequently asked questions
- What is social contributions in United Kingdom?
- Social contributions in United Kingdom was 174.12 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest social contributions recorded in United Kingdom?
- The highest recorded value was 181.66 billion current LCU in 2023.
- What is the lowest social contributions recorded in United Kingdom?
- The lowest recorded value was 3.33 billion current LCU in 1972.
- How does United Kingdom rank for social contributions?
- United Kingdom ranks 34th out of 112 countries with data for 2024.
- Is social contributions rising or falling in United Kingdom?
- Over the last ten years it is up 58.2%. 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 Social contributions (current LCU). Statizoid updates them automatically from the source API.
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About this data
Social contributions are actual or imputed contributions payable to social insurance schemes to make provisions for social benefits to be paid. 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.