Recent UK Total Public Revenue

  Analysis  

UK Public Revenue Since 1900

UK public revenue at the start of the 20th century was about 11 percent of GDP right up until the start of World War I.

Public revenue vaulted to over 33 percent of GDP in World War I, and then settled down to 23 percent of GDP in the 1920s. Revenue jogged up to 25 percent GDP in the Great Depression and then settled back to 22 percent GDP in the late 1930s.

Defence revenue in World War II drove overall public revenue over 30 percent of GDP, peaking at 37 percent of GDP in 1946 before declining to 34 percent of GDP by 1949.

From the 1950s to 1980 public revenue has remained within a band between 35 percent and 40 percent of GDP with occasional thrusts up 40 percent GDP.

From 1980 to 1994 public revenue declined from 38 percent GDP to 30 percent GDP. From 1994 to 2023 public revenue steadily increased, peaking at 39 percent in 2023.