In 2015/16 the UK government is forecast to spend a total of £753 billion.
Also see: HM Treasury PESA (released 21 July annually
Real term trends in public spending
UK Pension spending
More details on pension spending.
Government spending as % of GDP
Years 2018/19/20, forecasts
Forecasts of Government spending from Autumn Statement of Dec. 2014
Source: OBR, Dec 2014
This is outdated, but I leave in because it illustrates how chancellor George Osborne hoped strong economic growth would enable government spending to fall to 35% of GDP by 2018/19. However, that will not happen because of lower than expected growth and unexpected government spending.
- More on Government net borrowing here
Background to government spending
In 2000-01, several years of government spending restraint combined with rising economic growth, saw government spending shrink to under 35% of GDP. Between 2001 and 2007-08, spending rose to over 40% of GDP due to sustained increases in spending on health, education and welfare spending.
- Between 2008-09 and 2009-10, the UK saw a large drop in real GDP of 6%, but due to automatic stabilisers government spending increased (e.g. higher unemployment benefits). This caused government spending as % of GDP to rise to 47%.
- Government spending as % of GDP is forecast to fall closer to 40% of GDP by 2016-17 (if growth targets are met)