United Kingdom - Tax revenue (% of GDP)

Tax revenue (% of GDP) in United Kingdom was 24.91 as of 2019. Its highest value over the past 47 years was 26.34 in 2008, while its lowest value was 21.07 in 1973.

Definition: Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.

Source: International Monetary Fund, Government Finance Statistics Yearbook and data files, and World Bank and OECD GDP estimates.

See also:

Year Value
1972 23.02
1973 21.07
1974 23.75
1975 24.27
1976 23.80
1977 23.33
1978 22.15
1979 21.90
1980 23.88
1981 24.64
1982 25.87
1983 24.65
1984 24.78
1985 25.13
1986 24.50
1987 23.16
1988 22.99
1989 22.76
1990 24.15
1991 24.85
1992 24.28
1993 22.98
1994 23.80
1995 23.19
1996 23.03
1997 23.70
1998 24.98
1999 25.46
2000 26.10
2001 25.61
2002 24.92
2003 24.50
2004 25.12
2005 25.45
2006 25.65
2007 25.82
2008 26.34
2009 24.02
2010 25.20
2011 25.69
2012 24.94
2013 24.92
2014 24.70
2015 24.80
2016 25.14
2017 25.31
2018 25.24
2019 24.91

Limitations and Exceptions: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD). Despite IMF efforts to standardize data collection, statistics are often incomplete, untimely, and not comparable across countries.

Statistical Concept and Methodology: The IMF's Government Finance Statistics Manual 2014, harmonized with the 2008 SNA, recommends an accrual accounting method, focusing on all economic events affecting assets, liabilities, revenues, and expenses, not just those represented by cash transactions. It accounts for all changes in stocks, so stock data at the end of an accounting period equal stock data at the beginning of the period plus flows over the period. The 1986 manual considered only debt stocks. Government finance statistics are reported in local currency. Many countries report government finance data by fiscal year; see country metadata for information on fiscal year end by country.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Public Sector Indicators

Sub-Topic: Government finance