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Key Statistics
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20192020
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Gross Domestic Product (£bn)
£2,229£2,294
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Economic Growth1.1%1.0%
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Inflation (CPI)1.8%1.9%
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Bank of England Rate0.75%0.75%
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Unemployment Rate3.8%3.8%
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Average wage growth2.8%3.3%
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House Price Growth1.60%4.20%
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Average House Price£238,963£248,999
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Number Unemployed1,296,308 1,309,583
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Budget Balance
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20192020
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TOTAL PUBLIC EXPENDITURE£887,024£1,009,052
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EXPENDITURE % GDP39.79%43.99%
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Day-to-day spending£574,842£654,703
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Capital Spending£87,507£110,377
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Welfare£224,674£243,971
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TOTAL TAX REVENUE£839,378£941,114
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TAX REVENUE % GDP37.66%41.03%
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Business Rates£31,250£32,750
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Council Tax£36,215£36,939
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Stamp Duty on Shares£3,400£3,600
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Other Taxes£14,500£14,921
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License Fee£3,300£3,600
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Environmental levies£10,200£9,600
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Borrowing (Deficit)£47,646£67,937
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 % GDP2.14%2.96%
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Deficit on day-to-day spending-£1,454-£3,303
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 % GDP-0.07%-0.14%
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National Debt
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20192020
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Government Debt£1,799,000£1,866,937
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% GDP80.7%81.4%
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Debt interest£30,900£30,188
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