Back to today’s briefing

Story perspectives

UK National Debt to Peak at 96.3% of GDP by 2029

10/14/2025

49 11 Full Breakdown

Summary

Stride Highlights Debt

The United Kingdom's national debt is projected to rise through 2029/30.
The debt is projected to peak at 96.3% of GDP in 2028/29.
Mel Stride, the Shadow Chancellor, states that debt will reach the economy's size in nominal terms.
Public Sector Net Debt (PSND) and Public Sector Net Financial Liabilities (PSNFL) show divergent trends.
Global debt has risen to 95% of GDP post-pandemic, signaling rising fiscal pressures.

History

Historical Context

The UK's national debt crisis began in 2010, with debt reaching 80% of GDP due to austerity measures implemented by the Conservative-Liberal Democrat coalition government. Following the 2008 financial crisis, government spending surged to 48% of GDP in 2009-10. By 2028/29, projected debt is expected to peak at 96.3% of GDP, reflecting ongoing fiscal challenges intensified by the COVID-19 pandemic.

1 of 2

Stride Highlights Debt

The United Kingdom's national debt is projected to rise through 2029/30.
The debt is projected to peak at 96.3% of GDP in 2028/29.
Mel Stride, the Shadow Chancellor, states that debt will reach the economy's size in nominal terms.
Public Sector Net Debt (PSND) and Public Sector Net Financial Liabilities (PSNFL) show divergent trends.
Global debt has risen to 95% of GDP post-pandemic, signaling rising fiscal pressures.

1 / 2