Net debt as a percentage of GDP

300%

War

ministry

National

govt

Thatcher,

Major

Blair,

Brown

200

100

0

1901

1920

1940

1960

1980

2000

2020

300%

War

ministry

National

govt

Thatcher,

Major

Blair,

Brown

200

100

0

1901

1920

1940

1960

1980

2000

2020