24Peaks / Europe / United Kingdom / Government Expenditure (% of GDP)

United Kingdom - Government Expenditure (% of GDP) 41.23

World Bank WDI · updated 2026-10-15 · 161 economies tracked

Latest value

41.23 (2023)

Global rank

#n/a of 161 economies

Share of global total

1.7%

Growth since 1972

1.4×

Ranking Race — Government Expenditure (% of GDP)

1 = global #1 · higher value ranks higher

#1#22#43#64#85#106#1271972198219922002201220222024#5#102021 overtook Italy2023 overtook Hungary
United KingdomBotswanaTanzania

Real annual global ranks, 1972 - 2024. United Kingdom climbed from #5 to #10 (overtook Italy). Gaps in a lane = missing data that year.

Key events for United Kingdom ↓

Key Events — United Kingdom

Auto-detected from rank data + curated milestones

1979
Thatcher reforms begin curated

Privatisation and deregulation reshape the British economy.

1992
Black Wednesday curated

Pound forced out of the ERM after a failed defence of the exchange rate.

2008
Banking crisis curated

Northern Rock, RBS and Lloyds require state support.

2016
Brexit referendum curated

Vote to leave the EU starts a long period of trade uncertainty.

2021
Overtook Italy in global rank auto
2023
Overtook Hungary in global rank auto

Government Expenditure (% of GDP), 1972-2023

World Bank WDI · % of GDP · linear scale · ranking in the race above
1972198720022017202328.8435.0741.347.53

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