The UK national debt is expected to fall slightly by 2028-29

Public sector net debt as a percentage of GDP, excluding Bank of England

Historic (outturn)

March 2023 forecast restated

November 2023 forecast

100%

80

60

40

20

2005-06

2010-11

2015-16

2020-21

2025-26

Historic (outturn)

March 2023 forecast restated

November 2023 forecast

100%

80

60

40

20

2005-06

2010-11

2015-16

2020-21

2025-26

2028-29

Guardian graphic. Source: ONS, OBR. Note: March 2023 forecast restated denominator is the latest nominal GDP outturn in 2022-23 grown forward using OBS March 2023 forecast