UK Public Sector Net Debt to GDP

## What this measures

The UK public sector's debt minus its liquid assets, as a percent of GDP, excluding the banks taken into public ownership in 2008.

## Why it matters

It is the debt measure UK fiscal rules and the Office for Budget Responsibility work with.

## How to read it

It peaked near 98% of GDP in 2020 and has stayed above 90% since. Compare with interest costs: higher gilt yields make the same debt costlier.

## What it does not say

It is a net measure, not comparable with gross general-government debt published for other countries.

## Source

Office for National Statistics, series HF6X (dataset PUSF), "PSND ex BoE: as a % of GDP". Palanor reads it from the ONS website's time-series data every day.

Source: Office for National Statistics licensed under the Open Government Licence v.3.0.