Stately

DWP · £ million

State Pension expenditure under each government

The full published series with each government’s time in office shaded. The table gives the level each government inherited and the last complete period before it left. Changes describe the period, not a cause. Definitions and caveats are on the metric page.

State Pension expenditure: Year ending March 1949 to Year ending March 2025ConservativeConservativeConservativeConservativeLabourLabourLabourCoalitionConservativeConservativeConservativeLabour050k100k19501960197019801990200020102020Year ending March 1949: £176.4m £ million · published 26 March 2026Year ending March 1950: £248.9m £ million · published 26 March 2026Year ending March 1951: £248.6m £ million · published 26 March 2026Year ending March 1952: £275.2m £ million · published 26 March 2026Year ending March 1953: £315.5m £ million · published 26 March 2026Year ending March 1954: £334.1m £ million · published 26 March 2026Year ending March 1955: £348.1m £ million · published 26 March 2026Year ending March 1956: £432.5m £ million · published 26 March 2026Year ending March 1957: £447.9m £ million · published 26 March 2026Year ending March 1958: £482.1m £ million · published 26 March 2026Year ending March 1959: £617.4m £ million · published 26 March 2026Year ending March 1960: £657m £ million · published 26 March 2026Year ending March 1961: £676.9m £ million · published 26 March 2026Year ending March 1962: £783.9m £ million · published 26 March 2026Year ending March 1963: £807.1m £ million · published 26 March 2026Year ending March 1964: £958.8m £ million · published 26 March 2026Year ending March 1965: £1bn £ million · published 26 March 2026Year ending March 1966: £1.2bn £ million · published 26 March 2026Year ending March 1967: £1.3bn £ million · published 26 March 2026Year ending March 1968: £1.4bn £ million · published 26 March 2026Year ending March 1969: £1.5bn £ million · published 26 March 2026Year ending March 1970: £1.6bn £ million · published 26 March 2026Year ending March 1971: £1.8bn £ million · published 26 March 2026Year ending March 1972: £2.1bn £ million · published 26 March 2026Year ending March 1973: £2.4bn £ million · published 26 March 2026Year ending March 1974: £2.8bn £ million · published 26 March 2026Year ending March 1975: £3.6bn £ million · published 26 March 2026Year ending March 1976: £4.8bn £ million · published 26 March 2026Year ending March 1977: £5.7bn £ million · published 26 March 2026Year ending March 1978: £6.6bn £ million · published 26 March 2026Year ending March 1979: £7.6bn £ million · published 26 March 2026Year ending March 1980: £8.9bn £ million · published 26 March 2026Year ending March 1981: £10.6bn £ million · published 26 March 2026Year ending March 1982: £12.2bn £ million · published 26 March 2026Year ending March 1983: £13.6bn £ million · published 26 March 2026Year ending March 1984: £14.7bn £ million · published 26 March 2026Year ending March 1985: £15.3bn £ million · published 26 March 2026Year ending March 1986: £16.6bn £ million · published 26 March 2026Year ending March 1987: £17.8bn £ million · published 26 March 2026Year ending March 1988: £18.7bn £ million · published 26 March 2026Year ending March 1989: £19.3bn £ million · published 26 March 2026Year ending March 1990: £20.7bn £ million · published 26 March 2026Year ending March 1991: £22.7bn £ million · published 26 March 2026Year ending March 1992: £25.6bn £ million · published 26 March 2026Year ending March 1993: £26.7bn £ million · published 26 March 2026Year ending March 1994: £28.2bn £ million · published 26 March 2026Year ending March 1995: £28.8bn £ million · published 26 March 2026Year ending March 1996: £30bn £ million · published 26 March 2026Year ending March 1997: £32bn £ million · published 26 March 2026Year ending March 1998: £33.6bn £ million · published 26 March 2026Year ending March 1999: £35.6bn £ million · published 26 March 2026Year ending March 2000: £37.8bn £ million · published 26 March 2026Year ending March 2001: £38.7bn £ million · published 26 March 2026Year ending March 2002: £41.9bn £ million · published 26 March 2026Year ending March 2003: £44.4bn £ million · published 26 March 2026Year ending March 2004: £46.5bn £ million · published 26 March 2026Year ending March 2005: £48.8bn £ million · published 26 March 2026Year ending March 2006: £51.4bn £ million · published 26 March 2026Year ending March 2007: £53.7bn £ million · published 26 March 2026Year ending March 2008: £57.6bn £ million · published 26 March 2026Year ending March 2009: £61.6bn £ million · published 26 March 2026Year ending March 2010: £66.9bn £ million · published 26 March 2026Year ending March 2011: £69.8bn £ million · published 26 March 2026Year ending March 2012: £74.2bn £ million · published 26 March 2026Year ending March 2013: £79.8bn £ million · published 26 March 2026Year ending March 2014: £83.1bn £ million · published 26 March 2026Year ending March 2015: £86.5bn £ million · published 26 March 2026Year ending March 2016: £89.4bn £ million · published 26 March 2026Year ending March 2017: £91.6bn £ million · published 26 March 2026Year ending March 2018: £93.8bn £ million · published 26 March 2026Year ending March 2019: £96.7bn £ million · published 26 March 2026Year ending March 2020: £98.8bn £ million · published 26 March 2026Year ending March 2021: £102bn £ million · published 26 March 2026Year ending March 2022: £104.7bn £ million · published 26 March 2026Year ending March 2023: £110.5bn £ million · published 26 March 2026Year ending March 2024: £124.1bn £ million · published 26 March 2026Year ending March 2025: £136.6bn £ million · published 26 March 2026
Published valueProvisional or revisedLatestShaded bands: governments (see labels)Hover or use arrow keys to read a value
GovernmentInheritedLeft at / latestChange during government
Labour 2024–5 July 2024 – presentFewer than two periods have been published during this government, so no change is shown yet.
Conservative 2019–202413 December 2019 – 5 July 2024£96.7bnYear ending March 2019£124.1bnYear ending March 2024↑ 28.3%+£27.4bn
Conservative 2017–20199 June 2017 – 13 December 2019£91.6bnYear ending March 2017£96.7bnYear ending March 2019↑ 5.6%+£5.2bn
Conservative 2015–20178 May 2015 – 9 June 2017£86.5bnYear ending March 2015£91.6bnYear ending March 2017↑ 5.9%+£5.1bn
Coalition 2010–201511 May 2010 – 8 May 2015£66.9bnYear ending March 2010£86.5bnYear ending March 2015↑ 29.3%+£19.6bn
Labour 2005–20106 May 2005 – 11 May 2010£48.8bnYear ending March 2005£66.9bnYear ending March 2010↑ 37.1%+£18.1bn
Labour 2001–20058 June 2001 – 5 May 2005£38.7bnYear ending March 2001£48.8bnYear ending March 2005↑ 26.0%+£10.1bn
Labour 1997–20012 May 1997 – 7 June 2001£32bnYear ending March 1997£38.7bnYear ending March 2001↑ 21.0%+£6.7bn
Conservative 1992–199710 April 1992 – 2 May 1997£25.6bnYear ending March 1992£32bnYear ending March 1997↑ 25.2%+£6.4bn
Conservative 1987–199212 June 1987 – 9 April 1992£17.8bnYear ending March 1987£25.6bnYear ending March 1992↑ 43.6%+£7.8bn
Conservative 1983–198710 June 1983 – 11 June 1987£13.6bnYear ending March 1983£17.8bnYear ending March 1987↑ 31.1%+£4.2bn
Conservative 1979–19834 May 1979 – 9 June 1983£7.6bnYear ending March 1979£13.6bnYear ending March 1983↑ 79.1%+£6bn