# Debt interest: what the public sector pays on its debt

url: https://whereyourmoneygoes.co.uk/debt-interest/
updated: 29 September 2026
licence: Our words, analysis, charts and derived calculations: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/), credit [Tekstak Ltd](https://tek-stak.co.uk). Figures: each source's own licence, listed under Sources.
publisher: [Tekstak Ltd](https://tek-stak.co.uk)

# Debt interest: what the public sector pays on its debt



Last updated 29 September 2026.
Figures refresh every night. [How each figure is worked out](/methodology/).





**£130.3bn** was spent on debt interest in Debt interest, United Kingdom in 2025-26, **£1,875** per resident. That is −0.4% on a year earlier after inflation (+3.0% in cash). In 2025-26 prices it has gone from £23.7bn in 1955-56 to £130.3bn.



Figure as of 16 July 2026. Source:
[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx), [Office for Budget Responsibility](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).





## Key figures



- £130.3bnSpent in 2025-26, cash

+3.0% on a year earlier
As of 16 July 2026
- −0.4%Real-terms change, 2025-26 on a year earlier

£130.3bn in 2025-26 prices
As of 16 July 2026
- £1,875Per resident, 2025-26


As of 16 July 2026




Sources: [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), [Office for Budget Responsibility](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).





## What is the short version?



- **One of the biggest items of spending,** after social protection, health and education.
- **It moves with inflation and interest rates:** index-linked gilts pay more when prices rise, and the Bank of England’s quantitative easing passes on changes in its interest rate.
- **Not all of it is interest on borrowing:** HM Treasury counts the notional interest on public service pensions in the same heading, shown here as its own line.






## Over the longest run published: cash, real terms and per head




**Debt interest, United Kingdom: spending in cash and in 2025-26 prices, £ billion**








Real terms use HM Treasury’s GDP deflator, 2025-26 prices. Breaks in the series: 1998-99: Figures before 1998-99 are on a cash basis and from 1998-99 on an accruals basis. 1988-89: Before 1988-89 the series is the OBR’s historical figure. 2009-10: From 2009 the Bank of England’s quantitative easing changed how much of the cost of debt passes through the Bank; its line turned from a saving to a cost in 2022-23.




**The numbers behind this chart**



Search




| Year | Real terms (2025-26 prices) | Cash |
| --- | --- | --- |
| 1955-56Details | £23.7bn | £0.7bn |
| Cash£0.7bn | | |
| 1956-57Details | £22.9bn | £0.7bn |
| Cash£0.7bn | | |
| 1957-58Details | £21.4bn | £0.7bn |
| Cash£0.7bn | | |
| 1958-59Details | £23.1bn | £0.8bn |
| Cash£0.8bn | | |
| 1959-60Details | £22.8bn | £0.8bn |
| Cash£0.8bn | | |
| 1960-61Details | £24.9bn | £0.9bn |
| Cash£0.9bn | | |
| 1961-62Details | £25.1bn | £0.9bn |
| Cash£0.9bn | | |
| 1962-63Details | £23.9bn | £0.9bn |
| Cash£0.9bn | | |
| 1963-64Details | £25.0bn | £1.0bn |
| Cash£1.0bn | | |
| 1964-65Details | £24.1bn | £1.0bn |
| Cash£1.0bn | | |
| 1965-66Details | £23.6bn | £1.0bn |
| Cash£1.0bn | | |
| 1966-67Details | £24.2bn | £1.1bn |
| Cash£1.1bn | | |
| 1967-68Details | £25.1bn | £1.2bn |
| Cash£1.2bn | | |
| 1968-69Details | £26.6bn | £1.3bn |
| Cash£1.3bn | | |
| 1969-70Details | £25.6bn | £1.3bn |
| Cash£1.3bn | | |
| 1970-71Details | £23.6bn | £1.3bn |
| Cash£1.3bn | | |
| 1971-72Details | £23.8bn | £1.5bn |
| Cash£1.5bn | | |
| 1972-73Details | £25.4bn | £1.7bn |
| Cash£1.7bn | | |
| 1973-74Details | £26.1bn | £1.9bn |
| Cash£1.9bn | | |
| 1974-75Details | £25.9bn | £2.3bn |
| Cash£2.3bn | | |
| 1975-76Details | £26.2bn | £2.8bn |
| Cash£2.8bn | | |
| 1976-77Details | £31.0bn | £3.8bn |
| Cash£3.8bn | | |
| 1977-78Details | £33.3bn | £4.7bn |
| Cash£4.7bn | | |
| 1978-79Details | £36.1bn | £5.6bn |
| Cash£5.6bn | | |
| 1979-80Details | £37.8bn | £6.9bn |
| Cash£6.9bn | | |
| 1980-81Details | £39.8bn | £8.7bn |
| Cash£8.7bn | | |
| 1981-82Details | £44.1bn | £10.6bn |
| Cash£10.6bn | | |
| 1982-83Details | £46.4bn | £12.0bn |
| Cash£12.0bn | | |
| 1983-84Details | £47.6bn | £12.9bn |
| Cash£12.9bn | | |
| 1984-85Details | £51.9bn | £14.9bn |
| Cash£14.9bn | | |
| 1985-86Details | £53.6bn | £16.2bn |
| Cash£16.2bn | | |
| 1986-87Details | £54.2bn | £17.1bn |
| Cash£17.1bn | | |
| 1987-88Details | £55.9bn | £18.6bn |
| Cash£18.6bn | | |
| 1988-89Details | £56.8bn | £20.2bn |
| Cash£20.2bn | | |
| 1989-90Details | £54.4bn | £20.9bn |
| Cash£20.9bn | | |
| 1990-91Details | £49.2bn | £20.5bn |
| Cash£20.5bn | | |
| 1991-92Details | £41.4bn | £18.3bn |
| Cash£18.3bn | | |
| 1992-93Details | £41.9bn | £19.0bn |
| Cash£19.0bn | | |
| 1993-94Details | £44.6bn | £20.8bn |
| Cash£20.8bn | | |
| 1994-95Details | £49.5bn | £23.5bn |
| Cash£23.5bn | | |
| 1995-96Details | £54.7bn | £26.8bn |
| Cash£26.8bn | | |
| 1996-97Details | £55.5bn | £28.1bn |
| Cash£28.1bn | | |
| 1997-98Details | £58.5bn | £29.7bn |
| Cash£29.7bn | | |
| 1998-99Details | £57.1bn | £29.4bn |
| Cash£29.4bn | | |
| 1999-00Details | £48.8bn | £25.4bn |
| Cash£25.4bn | | |
| 2000-01Details | £50.6bn | £26.6bn |
| Cash£26.6bn | | |
| 2001-02Details | £42.3bn | £22.7bn |
| Cash£22.7bn | | |
| 2002-03Details | £39.7bn | £21.7bn |
| Cash£21.7bn | | |
| 2003-04Details | £58.3bn | £32.7bn |
| Cash£32.7bn | | |
| 2004-05Details | £63.1bn | £36.4bn |
| Cash£36.4bn | | |
| 2005-06Details | £65.8bn | £39.0bn |
| Cash£39.0bn | | |
| 2006-07Details | £69.7bn | £42.6bn |
| Cash£42.6bn | | |
| 2007-08Details | £74.5bn | £46.4bn |
| Cash£46.4bn | | |
| 2008-09Details | £75.8bn | £49.0bn |
| Cash£49.0bn | | |
| 2009-10Details | £67.7bn | £44.3bn |
| Cash£44.3bn | | |
| 2010-11Details | £86.1bn | £57.3bn |
| Cash£57.3bn | | |
| 2011-12Details | £88.4bn | £60.1bn |
| Cash£60.1bn | | |
| 2012-13Details | £80.8bn | £55.9bn |
| Cash£55.9bn | | |
| 2013-14Details | £79.2bn | £55.9bn |
| Cash£55.9bn | | |
| 2014-15Details | £75.0bn | £53.7bn |
| Cash£53.7bn | | |
| 2015-16Details | £76.2bn | £54.9bn |
| Cash£54.9bn | | |
| 2016-17Details | £77.4bn | £56.9bn |
| Cash£56.9bn | | |
| 2017-18Details | £82.7bn | £61.6bn |
| Cash£61.6bn | | |
| 2018-19Details | £73.9bn | £56.3bn |
| Cash£56.3bn | | |
| 2019-20Details | £70.6bn | £55.2bn |
| Cash£55.2bn | | |
| 2020-21Details | £51.4bn | £42.3bn |
| Cash£42.3bn | | |
| 2021-22Details | £88.2bn | £72.7bn |
| Cash£72.7bn | | |
| 2022-23Details | £147.8bn | £130.4bn |
| Cash£130.4bn | | |
| 2023-24Details | £137.0bn | £127.3bn |
| Cash£127.3bn | | |
| 2024-25Details | £130.9bn | £126.5bn |
| Cash£126.5bn | | |
| 2025-26Details | £130.3bn | £130.3bn |
| Cash£130.3bn | | |











Figure as of 16 July 2026. Source:
[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx), [Office for Budget Responsibility](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).





**Debt interest, United Kingdom: spending per resident, 2025-26 prices**








Per resident divides by ONS mid-year population estimates.




**The numbers behind this chart**



Search




| Year | Per resident, 2025-26 prices | Per resident, cash |
| --- | --- | --- |
| 1971-72Details | £425 | £26 |
| Per resident, cash£26 | | |
| 1972-73Details | £454 | £30 |
| Per resident, cash£30 | | |
| 1973-74Details | £465 | £34 |
| Per resident, cash£34 | | |
| 1974-75Details | £460 | £40 |
| Per resident, cash£40 | | |
| 1975-76Details | £465 | £51 |
| Per resident, cash£51 | | |
| 1976-77Details | £551 | £68 |
| Per resident, cash£68 | | |
| 1977-78Details | £593 | £84 |
| Per resident, cash£84 | | |
| 1978-79Details | £642 | £100 |
| Per resident, cash£100 | | |
| 1979-80Details | £672 | £123 |
| Per resident, cash£123 | | |
| 1980-81Details | £707 | £154 |
| Per resident, cash£154 | | |
| 1981-82Details | £783 | £188 |
| Per resident, cash£188 | | |
| 1982-83Details | £825 | £213 |
| Per resident, cash£213 | | |
| 1983-84Details | £844 | £229 |
| Per resident, cash£229 | | |
| 1984-85Details | £920 | £264 |
| Per resident, cash£264 | | |
| 1985-86Details | £947 | £286 |
| Per resident, cash£286 | | |
| 1986-87Details | £957 | £301 |
| Per resident, cash£301 | | |
| 1987-88Details | £984 | £328 |
| Per resident, cash£328 | | |
| 1988-89Details | £998 | £355 |
| Per resident, cash£355 | | |
| 1989-90Details | £953 | £366 |
| Per resident, cash£366 | | |
| 1990-91Details | £860 | £358 |
| Per resident, cash£358 | | |
| 1991-92Details | £721 | £319 |
| Per resident, cash£319 | | |
| 1992-93Details | £727 | £330 |
| Per resident, cash£330 | | |
| 1993-94Details | £772 | £360 |
| Per resident, cash£360 | | |
| 1994-95Details | £856 | £406 |
| Per resident, cash£406 | | |
| 1995-96Details | £943 | £462 |
| Per resident, cash£462 | | |
| 1996-97Details | £955 | £483 |
| Per resident, cash£483 | | |
| 1997-98Details | £1,004 | £509 |
| Per resident, cash£509 | | |
| 1998-99Details | £977 | £503 |
| Per resident, cash£503 | | |
| 1999-00Details | £831 | £433 |
| Per resident, cash£433 | | |
| 2000-01Details | £860 | £452 |
| Per resident, cash£452 | | |
| 2001-02Details | £716 | £384 |
| Per resident, cash£384 | | |
| 2002-03Details | £668 | £366 |
| Per resident, cash£366 | | |
| 2003-04Details | £978 | £548 |
| Per resident, cash£548 | | |
| 2004-05Details | £1,052 | £607 |
| Per resident, cash£607 | | |
| 2005-06Details | £1,088 | £646 |
| Per resident, cash£646 | | |
| 2006-07Details | £1,146 | £700 |
| Per resident, cash£700 | | |
| 2007-08Details | £1,215 | £757 |
| Per resident, cash£757 | | |
| 2008-09Details | £1,227 | £793 |
| Per resident, cash£793 | | |
| 2009-10Details | £1,087 | £712 |
| Per resident, cash£712 | | |
| 2010-11Details | £1,372 | £913 |
| Per resident, cash£913 | | |
| 2011-12Details | £1,397 | £950 |
| Per resident, cash£950 | | |
| 2012-13Details | £1,269 | £877 |
| Per resident, cash£877 | | |
| 2013-14Details | £1,235 | £872 |
| Per resident, cash£872 | | |
| 2014-15Details | £1,161 | £831 |
| Per resident, cash£831 | | |
| 2015-16Details | £1,170 | £843 |
| Per resident, cash£843 | | |
| 2016-17Details | £1,179 | £867 |
| Per resident, cash£867 | | |
| 2017-18Details | £1,254 | £934 |
| Per resident, cash£934 | | |
| 2018-19Details | £1,115 | £849 |
| Per resident, cash£849 | | |
| 2019-20Details | £1,060 | £828 |
| Per resident, cash£828 | | |
| 2020-21Details | £771 | £634 |
| Per resident, cash£634 | | |
| 2021-22Details | £1,316 | £1,085 |
| Per resident, cash£1,085 | | |
| 2022-23Details | £2,185 | £1,928 |
| Per resident, cash£1,928 | | |
| 2023-24Details | £2,000 | £1,858 |
| Per resident, cash£1,858 | | |
| 2024-25Details | £1,889 | £1,826 |
| Per resident, cash£1,826 | | |
| 2025-26Details | £1,875 | £1,875 |
| Per resident, cash£1,875 | | |











Figure as of 16 July 2026. Source:
[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx), [Office for Budget Responsibility](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).





Source: HM Treasury, [PESA 2026: chapters 4 and 5 tables](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), published 16 July 2026; HM Treasury, [PESA 2021: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx); HM Treasury, [PESA 2016: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx); HM Treasury, [PESA 2011: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx); Office for Budget Responsibility, [Historical public finances database](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).





## How big a share it takes




**Debt interest as a share of GDP and of all public spending**








Share of GDP uses HM Treasury’s money GDP; share of spending divides by total managed expenditure, which is published from 1988-89.




**The numbers behind this chart**



Search




| Year | % of GDP | % of total managed expenditure |
| --- | --- | --- |
| 1955-56Details | 3.7% | — |
| % of total managed expenditure— | | |
| 1956-57Details | 3.5% | — |
| % of total managed expenditure— | | |
| 1957-58Details | 3.2% | — |
| % of total managed expenditure— | | |
| 1958-59Details | 3.4% | — |
| % of total managed expenditure— | | |
| 1959-60Details | 3.2% | — |
| % of total managed expenditure— | | |
| 1960-61Details | 3.3% | — |
| % of total managed expenditure— | | |
| 1961-62Details | 3.3% | — |
| % of total managed expenditure— | | |
| 1962-63Details | 3.1% | — |
| % of total managed expenditure— | | |
| 1963-64Details | 3.0% | — |
| % of total managed expenditure— | | |
| 1964-65Details | 2.8% | — |
| % of total managed expenditure— | | |
| 1965-66Details | 2.7% | — |
| % of total managed expenditure— | | |
| 1966-67Details | 2.7% | — |
| % of total managed expenditure— | | |
| 1967-68Details | 2.7% | — |
| % of total managed expenditure— | | |
| 1968-69Details | 2.8% | — |
| % of total managed expenditure— | | |
| 1969-70Details | 2.6% | — |
| % of total managed expenditure— | | |
| 1970-71Details | 2.3% | — |
| % of total managed expenditure— | | |
| 1971-72Details | 2.3% | — |
| % of total managed expenditure— | | |
| 1972-73Details | 2.3% | — |
| % of total managed expenditure— | | |
| 1973-74Details | 2.3% | — |
| % of total managed expenditure— | | |
| 1974-75Details | 2.3% | — |
| % of total managed expenditure— | | |
| 1975-76Details | 2.4% | — |
| % of total managed expenditure— | | |
| 1976-77Details | 2.7% | — |
| % of total managed expenditure— | | |
| 1977-78Details | 2.8% | — |
| % of total managed expenditure— | | |
| 1978-79Details | 2.9% | — |
| % of total managed expenditure— | | |
| 1979-80Details | 3.0% | — |
| % of total managed expenditure— | | |
| 1980-81Details | 3.2% | — |
| % of total managed expenditure— | | |
| 1981-82Details | 3.6% | — |
| % of total managed expenditure— | | |
| 1982-83Details | 3.7% | — |
| % of total managed expenditure— | | |
| 1983-84Details | 3.6% | — |
| % of total managed expenditure— | | |
| 1984-85Details | 3.9% | — |
| % of total managed expenditure— | | |
| 1985-86Details | 3.8% | — |
| % of total managed expenditure— | | |
| 1986-87Details | 3.7% | — |
| % of total managed expenditure— | | |
| 1987-88Details | 3.6% | — |
| % of total managed expenditure— | | |
| 1988-89Details | 3.5% | 10.6% |
| % of total managed expenditure10.6% | | |
| 1989-90Details | 3.3% | 9.9% |
| % of total managed expenditure9.9% | | |
| 1990-91Details | 3.0% | 9.0% |
| % of total managed expenditure9.0% | | |
| 1991-92Details | 2.6% | 7.2% |
| % of total managed expenditure7.2% | | |
| 1992-93Details | 2.6% | 6.9% |
| % of total managed expenditure6.9% | | |
| 1993-94Details | 2.7% | 7.3% |
| % of total managed expenditure7.3% | | |
| 1994-95Details | 2.9% | 7.9% |
| % of total managed expenditure7.9% | | |
| 1995-96Details | 3.1% | 8.6% |
| % of total managed expenditure8.6% | | |
| 1996-97Details | 3.0% | 8.9% |
| % of total managed expenditure8.9% | | |
| 1997-98Details | 3.1% | 9.2% |
| % of total managed expenditure9.2% | | |
| 1998-99Details | 2.9% | 8.9% |
| % of total managed expenditure8.9% | | |
| 1999-00Details | 2.4% | 7.4% |
| % of total managed expenditure7.4% | | |
| 2000-01Details | 2.4% | 7.3% |
| % of total managed expenditure7.3% | | |
| 2001-02Details | 2.0% | 5.8% |
| % of total managed expenditure5.8% | | |
| 2002-03Details | 1.8% | 5.2% |
| % of total managed expenditure5.2% | | |
| 2003-04Details | 2.6% | 6.6% |
| % of total managed expenditure6.6% | | |
| 2004-05Details | 2.7% | 6.8% |
| % of total managed expenditure6.8% | | |
| 2005-06Details | 2.7% | 6.9% |
| % of total managed expenditure6.9% | | |
| 2006-07Details | 2.9% | 7.2% |
| % of total managed expenditure7.2% | | |
| 2007-08Details | 3.0% | 7.4% |
| % of total managed expenditure7.4% | | |
| 2008-09Details | 3.1% | 7.1% |
| % of total managed expenditure7.1% | | |
| 2009-10Details | 2.8% | 6.2% |
| % of total managed expenditure6.2% | | |
| 2010-11Details | 3.5% | 7.7% |
| % of total managed expenditure7.7% | | |
| 2011-12Details | 3.6% | 8.1% |
| % of total managed expenditure8.1% | | |
| 2012-13Details | 3.2% | 7.4% |
| % of total managed expenditure7.4% | | |
| 2013-14Details | 3.1% | 7.3% |
| % of total managed expenditure7.3% | | |
| 2014-15Details | 2.8% | 6.8% |
| % of total managed expenditure6.8% | | |
| 2015-16Details | 2.8% | 6.9% |
| % of total managed expenditure6.9% | | |
| 2016-17Details | 2.8% | 7.0% |
| % of total managed expenditure7.0% | | |
| 2017-18Details | 2.9% | 7.3% |
| % of total managed expenditure7.3% | | |
| 2018-19Details | 2.6% | 6.6% |
| % of total managed expenditure6.6% | | |
| 2019-20Details | 2.4% | 6.2% |
| % of total managed expenditure6.2% | | |
| 2020-21Details | 2.0% | 3.8% |
| % of total managed expenditure3.8% | | |
| 2021-22Details | 3.0% | 7.0% |
| % of total managed expenditure7.0% | | |
| 2022-23Details | 5.0% | 11.2% |
| % of total managed expenditure11.2% | | |
| 2023-24Details | 4.6% | 10.3% |
| % of total managed expenditure10.3% | | |
| 2024-25Details | 4.3% | 9.8% |
| % of total managed expenditure9.8% | | |
| 2025-26Details | 4.2% | 9.6% |
| % of total managed expenditure9.6% | | |











Figure as of 16 July 2026. Source:
[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx), [HM Treasury](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx), [Office for Budget Responsibility](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197).






## Where it is projected to go




**Net interest as a share of GDP, OBR projection (july-2026)**








A projection under the OBR’s assumptions, not a forecast of what governments will do. Net interest is interest paid less interest received, so it is lower than the gross figures above.




**The numbers behind this chart**





| Year | Net interest, % of GDP |
| --- | --- |
| 2025-26 | 3.0% |
| 2030-31 | 3.1% |
| 2035-36 | 3.8% |
| 2045-46 | 5.0% |
| 2055-56 | 6.5% |
| 2065-66 | 8.7% |
| 2075-76 | 12.2% |






Figure as of 7 July 2026. Source:
[Office for Budget Responsibility](https://obr.uk/frs/fiscal-risks-and-sustainability-july-2026/).




More on the long-term pressures on the public finances: [the long-term outlook](/long-term-public-finances/).





## Where the money goes, level by level



- UK total
- Nation not published
- Department or service body
- Local body not published
- Spending category not published
- Line or transaction not published





- Debt interest, United Kingdom





### Debt interest, United Kingdom



Public sector debt interest as HM Treasury counts it in PESA, which includes the notional interest on public service pension liabilities. Before 1988-89 the series is the OBR’s historical figure.



**£130.3bn** in 2025-26 (cash); £130.3bn in 2025-26 prices; £1,875 per resident; +3.0% on a year earlier in cash, −0.4% in real terms.





| Department or service body | Cash, 2025-26 | Real terms (2025-26 prices) | Per resident | Real change on a year earlier | Source | Below this |
| --- | --- | --- | --- | --- | --- | --- |
| Central government debt interestDetails | £96.9bn | £96.9bn | £1,395 | +9.8% | [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | Local body not published: HM Treasury does not publish interest by gilt in PESA; the Debt Management Office publishes each gilt in issue and the OBR the split between conventional and index-linked interest in its forecasts. |
| Real terms (2025-26 prices)£96.9bnPer resident£1,395Real change on a year earlier+9.8%Source[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx)Below thisLocal body not published: HM Treasury does not publish interest by gilt in PESA; the Debt Management Office publishes each gilt in issue and the OBR the split between conventional and index-linked interest in its forecasts. | | | | | | |
| Interest on public service pension liabilitiesDetails | £19.4bn | £19.4bn | £279 | +0.1% | [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | Local body not published: Not broken down further in PESA. |
| Real terms (2025-26 prices)£19.4bnPer resident£279Real change on a year earlier+0.1%Source[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx)Below thisLocal body not published: Not broken down further in PESA. | | | | | | |
| Bank of EnglandDetails | £12.3bn | £12.3bn | £178 | −42.7% | [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | Local body not published: Not broken down further in PESA. |
| Real terms (2025-26 prices)£12.3bnPer resident£178Real change on a year earlier−42.7%Source[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx)Below thisLocal body not published: Not broken down further in PESA. | | | | | | |
| Local government debt interestDetails | £1.1bn | £1.1bn | £16.29 | −0.3% | [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | Local body not published: Not broken down further in PESA. |
| Real terms (2025-26 prices)£1.1bnPer resident£16.29Real change on a year earlier−0.3%Source[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx)Below thisLocal body not published: Not broken down further in PESA. | | | | | | |
| Public corporation debt interestDetails | £502m | £502m | £7.22 | +1.3% | [HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | Local body not published: Not broken down further in PESA. |
| Real terms (2025-26 prices)£502mPer resident£7.22Real change on a year earlier+1.3%Source[HM Treasury](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx)Below thisLocal body not published: Not broken down further in PESA. | | | | | | |







Cash is as published. Real terms are in 2025-26 prices, using HM Treasury’s GDP deflator. Per resident divides by
ONS mid-year population for the area the body serves. Changes compare the same body in consecutive years.






## What these figures do and don't show



- **Gross, not net.** The main figures are interest paid; the OBR projection is net of interest received.
- **Pension interest is included.** HM Treasury’s debt interest heading includes the notional interest on unfunded public service pensions; it is shown separately in the drill-down.
- **The long run joins sources.** Before 1988-89 the series is the OBR’s historical database, on a cash basis before 1998-99.
- **Not split by nation,** because the debt is the UK’s.




Figures from data/services/debt-interest.json, generated 29 September 2026.



## Use this data



The figures belong to the bodies that published them and are used under their terms, listed in
[Sources for this page](#sources); most are Crown copyright under the Open Government Licence.
Only our own words, analysis, charts and derived calculations are ours, published under
[CC BY 4.0](https://creativecommons.org/licenses/by/4.0/): reuse them, including
commercially, if you credit [Tekstak Ltd](https://tek-stak.co.uk) and link back to this page.



### Download



- [Debt interest: what the public sector pays on its debt: the dataset (CSV)](/data/services/debt-interest.csv)
[JSON](/data/services/debt-interest.json)

- [All data, field definitions and licences](/data/)







## Sources for this page





| Source | Publisher | Figures as of | Updated | Licence |
| --- | --- | --- | --- | --- |
| [PESA 2026: chapters 4 and 5 tables](https://assets.publishing.service.gov.uk/media/6a5772f59e63154454413701/PESA_2026_CP_Chapter_5_tables.xlsx) | HM Treasury | 16 July 2026 | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |
| [PESA 2021: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/60f573d2d3bf7f56824cc5f3/PESA_2021_CP_Chapter_5.xlsx) | HM Treasury | — | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |
| [PESA 2016: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/5a7f5c21e5274a2e87db561f/PESA_2016_Chapter_5_tables.xlsx) | HM Treasury | — | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |
| [PESA 2011: chapter 4 and 5 tables](https://assets.publishing.service.gov.uk/media/5a7c87a5ed915d6969f45852/pesa_2011_tables_chapter5.xlsx) | HM Treasury | — | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |
| [Historical public finances database](https://obr.uk/download/historical-public-finances-database/?tmstv=1790611197) | Office for Budget Responsibility | — | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |
| [Fiscal risks and sustainability, July 2026](https://obr.uk/frs/fiscal-risks-and-sustainability-july-2026/) | Office for Budget Responsibility | 7 July 2026 | annual | [Open Government Licence v3.0](https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/) |





Each source's figures are used under the licence shown. Our own words, analysis, charts and derived calculations
are ours, under [CC BY 4.0](https://creativecommons.org/licenses/by/4.0/).

## Related pages

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- [Is the UK tax burden the highest it has ever been?](https://whereyourmoneygoes.co.uk/the-tax-burden/)
- [How much public money is lost to fraud, error and write-offs?](https://whereyourmoneygoes.co.uk/fraud-error-and-write-offs/)

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Published by [Tekstak Ltd](https://tek-stak.co.uk). Our words, analysis, charts and derived calculations: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/), credit [Tekstak Ltd](https://tek-stak.co.uk). The figures belong to the publishers listed under Sources and are used under their licences. Figures last updated 29 September 2026.