8 May 2015 – 9 June 2017
Public finances during the Conservative 2015–2017 government
Summary
| Metric | Level when government took office | Latest | Change during government |
|---|---|---|---|
| Borrowing forecasts, per cent of GDPOBR · per cent of GDP | 5.2%Year ending March 2015 | 2.8%Year ending March 2017 | ↓ 45.4%−2.3% · 2 periods |
| Borrowing forecasts, £ billionOBR · £ billion | £97.5bnYear ending March 2015 | £57.2bnYear ending March 2017 | ↓ 41.4%−£40.3bn · 2 periods |
| Debt forecasts, per cent of GDPOBR · per cent of GDP | 81.1%Year ending March 2015 | 82.7%Year ending March 2017 | ↑ 2.0%+1.7% · 2 periods |
| Spending forecasts, £ billionOBR · £ billion | £786.1bnYear ending March 2015 | £811.4bnYear ending March 2017 | ↑ 3.2%+£25.3bn · 2 periods |
| Receipts forecasts, £ billionOBR · £ billion | £688.7bnYear ending March 2015 | £754.2bnYear ending March 2017 | ↑ 9.5%+£65.6bn · 2 periods |
| GDP growth forecastsOBR · per cent | 3.2%2014 | 2.2%2016 | ↓ 30.2%−1% · 2 periods |
| Inflation forecastsOBR · per cent | 1.5%2014 | 0.7%2016 | ↓ 54.8%−0.8% · 2 periods |
| Unemployment forecastsOBR · per cent | 6.2%2014 | 4.9%2016 | ↓ 20.8%−1.3% · 2 periods |
| Employment forecastsOBR · people | 30,818,2502014 | 31,810,2502016 | ↑ 3.2%+992,000 · 2 periods |
| Earnings growth forecastsOBR · per cent | 2.1%2014 | 2.5%2016 | ↑ 18.7%+0.4% · 2 periods |
| House price forecastsOBR · per cent | 8%2014 | 7%2016 | ↓ 12.2%−1% · 2 periods |
| Household income forecastsOBR · per cent | 2.4%2014 | 0.7%2016 | ↓ 69.0%−1.6% · 2 periods |
| Income tax forecastsOBR · £ billion | £163.6bnYear ending March 2015 | £177bnYear ending March 2017 | ↑ 8.1%+£13.3bn · 2 periods |
| National Insurance forecastsOBR · £ billion | £110.3bnYear ending March 2015 | £125.8bnYear ending March 2017 | ↑ 14.1%+£15.5bn · 2 periods |
| VAT forecastsOBR · £ billion | £111.2bnYear ending March 2015 | £122bnYear ending March 2017 | ↑ 9.7%+£10.8bn · 2 periods |
| Welfare spending forecastsOBR · £ billion | £213.9bnYear ending March 2015 | £216.7bnYear ending March 2017 | ↑ 1.3%+£2.8bn · 2 periods |
| Debt interest forecastsOBR · £ billion | £46.6bnYear ending March 2015 | £49.9bnYear ending March 2017 | ↑ 7.1%+£3.3bn · 2 periods |
| Public sector receipts since 1900, per cent of GDPOBR · per cent of GDP | 36.5%Year ending March 2015 | 37.2%Year ending March 2017 | ↑ 2.0%+0.7% · 2 periods |
| Public spending since 1900, per cent of GDPOBR · per cent of GDP | 41.6%Year ending March 2015 | 40%Year ending March 2017 | ↓ 3.9%−1.6% · 2 periods |
| Borrowing since 1900, per cent of GDPOBR · per cent of GDP | 5.2%Year ending March 2015 | 2.8%Year ending March 2017 | ↓ 45.4%−2.3% · 2 periods |
| National debt since 1900, per cent of GDPOBR · per cent of GDP | 81.1%Year ending March 2015 | 82.7%Year ending March 2017 | ↑ 2.1%+1.7% · 2 periods |
| Public sector net borrowingONS · £ million | -£12bnApril 2015 | -£7.2bnMay 2017 | ↑ 40.3%+£4.8bn · 25 periods |
| Public sector net debtONS · £ billion | £1.55tnApril 2015 | £1.73tnMay 2017 | ↑ 11.2%+£173.9bn · 25 periods |
| Public sector net debt as a share of GDPONS · percent | 80.9%April 2015 | 82.7%May 2017 | ↑ 2.2%+1.8% · 25 periods |
| Debt interest paidONS · £ million | £5.8bnApril 2015 | £5.1bnMay 2017 | ↓ 11.6%−£677m · 25 periods |
Borrowing forecasts, per cent of GDP
Inherited Year ending March 2015: 5.2% per cent of GDP. Latest Year ending March 2017: 2.8%.
Borrowing forecasts, £ billion
Inherited Year ending March 2015: £97.5bn £ billion. Latest Year ending March 2017: £57.2bn.
Debt forecasts, per cent of GDP
Inherited Year ending March 2015: 81.1% per cent of GDP. Latest Year ending March 2017: 82.7%.
Spending forecasts, £ billion
Inherited Year ending March 2015: £786.1bn £ billion. Latest Year ending March 2017: £811.4bn.
Receipts forecasts, £ billion
Inherited Year ending March 2015: £688.7bn £ billion. Latest Year ending March 2017: £754.2bn.
GDP growth forecasts
Inherited 2014: 3.2% per cent. Latest 2016: 2.2%.
Inflation forecasts
Inherited 2014: 1.5% per cent. Latest 2016: 0.7%.
Unemployment forecasts
Inherited 2014: 6.2% per cent. Latest 2016: 4.9%.
Employment forecasts
Inherited 2014: 30,818,250 people. Latest 2016: 31,810,250.
Earnings growth forecasts
Inherited 2014: 2.1% per cent. Latest 2016: 2.5%.
House price forecasts
Inherited 2014: 8% per cent. Latest 2016: 7%.
Household income forecasts
Inherited 2014: 2.4% per cent. Latest 2016: 0.7%.
Income tax forecasts
Inherited Year ending March 2015: £163.6bn £ billion. Latest Year ending March 2017: £177bn.
National Insurance forecasts
Inherited Year ending March 2015: £110.3bn £ billion. Latest Year ending March 2017: £125.8bn.
VAT forecasts
Inherited Year ending March 2015: £111.2bn £ billion. Latest Year ending March 2017: £122bn.
Welfare spending forecasts
Inherited Year ending March 2015: £213.9bn £ billion. Latest Year ending March 2017: £216.7bn.
Debt interest forecasts
Inherited Year ending March 2015: £46.6bn £ billion. Latest Year ending March 2017: £49.9bn.
Public sector receipts since 1900, per cent of GDP
Inherited Year ending March 2015: 36.5% per cent of GDP. Latest Year ending March 2017: 37.2%.
Public spending since 1900, per cent of GDP
Inherited Year ending March 2015: 41.6% per cent of GDP. Latest Year ending March 2017: 40%.
Borrowing since 1900, per cent of GDP
Inherited Year ending March 2015: 5.2% per cent of GDP. Latest Year ending March 2017: 2.8%.
National debt since 1900, per cent of GDP
Inherited Year ending March 2015: 81.1% per cent of GDP. Latest Year ending March 2017: 82.7%.
Public sector net borrowing
Inherited April 2015: -£12bn £ million. Latest May 2017: -£7.2bn.
Public sector net debt
Inherited April 2015: £1.55tn £ billion. Latest May 2017: £1.73tn.
Public sector net debt as a share of GDP
Inherited April 2015: 80.9% percent. Latest May 2017: 82.7%.
Debt interest paid
Inherited April 2015: £5.8bn £ million. Latest May 2017: £5.1bn.