Published on 28th May 2025

This is the full version of the first paper in my Global Britain series on the UK’s public finances, entitled ‘The structure of the UK’s public finances and the amount of the UK’s public debt’.

You can download it through this link.

A Spending Review is in progress – good timing!

The UK public sector is far larger than the 40% of the economy that it is commonly taken to be.

And the debts are larger than the 95% of GDP that it is commonly taken to be.

Labour plan to increase the size of the public sector and its debts, but to keep both under wraps if possible.