9 June 2017 – 13 December 2019
Public finances during the Conservative 2017–2019 government
Summary
| Metric | Level when government took office | Latest | Change during government |
|---|---|---|---|
| Borrowing forecasts, per cent of GDPOBR · per cent of GDP | 2.8%Year ending March 2017 | 2%Year ending March 2019 | ↓ 28.2%−0.8% · 2 periods |
| Borrowing forecasts, £ billionOBR · £ billion | £57.2bnYear ending March 2017 | £44.3bnYear ending March 2019 | ↓ 22.5%−£12.9bn · 2 periods |
| Debt forecasts, per cent of GDPOBR · per cent of GDP | 82.7%Year ending March 2017 | 79.6%Year ending March 2019 | ↓ 3.7%−3.1% · 2 periods |
| Spending forecasts, £ billionOBR · £ billion | £811.4bnYear ending March 2017 | £856bnYear ending March 2019 | ↑ 5.5%+£44.6bn · 2 periods |
| Receipts forecasts, £ billionOBR · £ billion | £754.2bnYear ending March 2017 | £811.7bnYear ending March 2019 | ↑ 7.6%+£57.5bn · 2 periods |
| GDP growth forecastsOBR · per cent | 2.2%2016 | 1.6%2018 | ↓ 29.7%−0.7% · 2 periods |
| Inflation forecastsOBR · per cent | 0.7%2016 | 2.5%2018 | ↑ 275.7%+1.8% · 2 periods |
| Unemployment forecastsOBR · per cent | 4.9%2016 | 4.1%2018 | ↓ 16.4%−0.8% · 2 periods |
| Employment forecastsOBR · people | 31,810,2502016 | 32,506,7502018 | ↑ 2.2%+696,500 · 2 periods |
| Earnings growth forecastsOBR · per cent | 2.5%2016 | 2.6%2018 | ↑ 2.7%+0.1% · 2 periods |
| House price forecastsOBR · per cent | 7%2016 | 3.2%2018 | ↓ 54.2%−3.8% · 2 periods |
| Household income forecastsOBR · per cent | 0.7%2016 | 2%2018 | ↑ 168.3%+1.2% · 2 periods |
| Income tax forecastsOBR · £ billion | £177bnYear ending March 2017 | £192.5bnYear ending March 2019 | ↑ 8.8%+£15.6bn · 2 periods |
| National Insurance forecastsOBR · £ billion | £125.8bnYear ending March 2017 | £137.5bnYear ending March 2019 | ↑ 9.3%+£11.7bn · 2 periods |
| VAT forecastsOBR · £ billion | £122bnYear ending March 2017 | £133.5bnYear ending March 2019 | ↑ 9.4%+£11.5bn · 2 periods |
| Welfare spending forecastsOBR · £ billion | £216.7bnYear ending March 2017 | £222.5bnYear ending March 2019 | ↑ 2.7%+£5.8bn · 2 periods |
| Debt interest forecastsOBR · £ billion | £49.9bnYear ending March 2017 | £50.1bnYear ending March 2019 | ↑ 0.4%+£212m · 2 periods |
| Public sector receipts since 1900, per cent of GDPOBR · per cent of GDP | 37.2%Year ending March 2017 | 37.1%Year ending March 2019 | ↓ 0.4%−0.1% · 2 periods |
| Public spending since 1900, per cent of GDPOBR · per cent of GDP | 40%Year ending March 2017 | 39.1%Year ending March 2019 | ↓ 2.3%−0.9% · 2 periods |
| Borrowing since 1900, per cent of GDPOBR · per cent of GDP | 2.8%Year ending March 2017 | 2%Year ending March 2019 | ↓ 28.2%−0.8% · 2 periods |
| National debt since 1900, per cent of GDPOBR · per cent of GDP | 82.7%Year ending March 2017 | 79.6%Year ending March 2019 | ↓ 3.7%−3.1% · 2 periods |
| Public sector net borrowingONS · £ million | -£7.2bnMay 2017 | -£5.5bnNovember 2019 | ↑ 23.8%+£1.7bn · 30 periods |
| Public sector net debtONS · £ billion | £1.73tnMay 2017 | £1.83tnNovember 2019 | ↑ 5.8%+£101bn · 30 periods |
| Public sector net debt as a share of GDPONS · percent | 82.7%May 2017 | 82.8%November 2019 | ↑ 0.1%+0.1% · 30 periods |
| Debt interest paidONS · £ million | £5.1bnMay 2017 | £2.7bnNovember 2019 | ↓ 47.1%−£2.4bn · 30 periods |
Borrowing forecasts, per cent of GDP
Inherited Year ending March 2017: 2.8% per cent of GDP. Latest Year ending March 2019: 2%.
Borrowing forecasts, £ billion
Inherited Year ending March 2017: £57.2bn £ billion. Latest Year ending March 2019: £44.3bn.
Debt forecasts, per cent of GDP
Inherited Year ending March 2017: 82.7% per cent of GDP. Latest Year ending March 2019: 79.6%.
Spending forecasts, £ billion
Inherited Year ending March 2017: £811.4bn £ billion. Latest Year ending March 2019: £856bn.
Receipts forecasts, £ billion
Inherited Year ending March 2017: £754.2bn £ billion. Latest Year ending March 2019: £811.7bn.
GDP growth forecasts
Inherited 2016: 2.2% per cent. Latest 2018: 1.6%.
Inflation forecasts
Inherited 2016: 0.7% per cent. Latest 2018: 2.5%.
Unemployment forecasts
Inherited 2016: 4.9% per cent. Latest 2018: 4.1%.
Employment forecasts
Inherited 2016: 31,810,250 people. Latest 2018: 32,506,750.
Earnings growth forecasts
Inherited 2016: 2.5% per cent. Latest 2018: 2.6%.
House price forecasts
Inherited 2016: 7% per cent. Latest 2018: 3.2%.
Household income forecasts
Inherited 2016: 0.7% per cent. Latest 2018: 2%.
Income tax forecasts
Inherited Year ending March 2017: £177bn £ billion. Latest Year ending March 2019: £192.5bn.
National Insurance forecasts
Inherited Year ending March 2017: £125.8bn £ billion. Latest Year ending March 2019: £137.5bn.
VAT forecasts
Inherited Year ending March 2017: £122bn £ billion. Latest Year ending March 2019: £133.5bn.
Welfare spending forecasts
Inherited Year ending March 2017: £216.7bn £ billion. Latest Year ending March 2019: £222.5bn.
Debt interest forecasts
Inherited Year ending March 2017: £49.9bn £ billion. Latest Year ending March 2019: £50.1bn.
Public sector receipts since 1900, per cent of GDP
Inherited Year ending March 2017: 37.2% per cent of GDP. Latest Year ending March 2019: 37.1%.
Public spending since 1900, per cent of GDP
Inherited Year ending March 2017: 40% per cent of GDP. Latest Year ending March 2019: 39.1%.
Borrowing since 1900, per cent of GDP
Inherited Year ending March 2017: 2.8% per cent of GDP. Latest Year ending March 2019: 2%.
National debt since 1900, per cent of GDP
Inherited Year ending March 2017: 82.7% per cent of GDP. Latest Year ending March 2019: 79.6%.
Public sector net borrowing
Inherited May 2017: -£7.2bn £ million. Latest November 2019: -£5.5bn.
Public sector net debt
Inherited May 2017: £1.73tn £ billion. Latest November 2019: £1.83tn.
Public sector net debt as a share of GDP
Inherited May 2017: 82.7% percent. Latest November 2019: 82.8%.
Debt interest paid
Inherited May 2017: £5.1bn £ million. Latest November 2019: £2.7bn.