The United Kingdom expects economic growth of 1.2% in 2026 and 1% in 2027, according to the forecasts of Finance Minister John Healey during the presentation of the State Budget. Estimates point to accelerated growth in the following years, with public debt continuing to decline.
© Reuters
28/10/2026
by
Lusa
A the United Kingdom's economy is expected to grow by 1.2% this year and by 1% by 2027, according to the forecasts announced today by the British Finance Minister, John Healey, during the presentation of the State Budget.
According to Healey, growth is expected to accelerate to 1.6% in 2028 and 1.8% in 2029, before slowing slightly to 1.7% in 2030 and 1.6% in 2031.
According to the estimates presented today, public debt is expected to fall to 4.2% of Gross Domestic Product (GDP) this year, 3.4% in 2027, continuing to fall to 1.8% in 2030/31.
Public debt is expected to reach 83.2% of GDP in 2026 and 83.8% in 2027, before falling to 81.7% in 2031/32.
Although the development of public finances has recently received the approval of the International Monetary Fund, the UK debt has for the first time in history exceeded GBP 3 billion (EUR 3.6 billion), demanding 8% of public expenditure for interest payments.
Healey indicated that the tax margin, the value between the expected revenue and expenditure and the limit set by the government's budgetary rules, which require that current expenditure be fully financed by revenue by 2029/30, will be GBP 15 billion by 2029/30, rising to GBP 22 billion by 2030/31.