Fiscal Balance GDP Comparison
REVENUE & EXPENDITUREFISCAL BALANCE AS A PERCENTAGE OF GDP COMPARISON
| Year | UK GDP (£m) | Scotland GDP (£m) | UK Fiscal Balance (£m) | Scotland Fiscal Balance (£m) | UK % GDP | Scotland % GDP |
|---|---|---|---|---|---|---|
| Year | UK | Scotland | UK | Scotland | UK | Scotland |
| 1998-99 | 1,010,722 | 84,845 | 175 | -2,710 | 0.0% | -3.2% |
| 1999-00 | 1,058,494 | 90,370 | 11,697 | -2,208 | 1.1% | -2.4% |
| 2000-01 | 1,114,341 | 98,211 | 15,367 | -561 | 1.4% | -0.6% |
| 2001-02 | 1,152,999 | 100,150 | -6,453 | -2,923 | -0.6% | -2.9% |
| 2002-03 | 1,209,047 | 104,027 | -36,278 | -5,923 | -3.0% | -5.7% |
| 2003-04 | 1,275,294 | 110,209 | -43,556 | -7,486 | -3.4% | -6.8% |
| 2004-05 | 1,342,278 | 117,541 | -52,370 | -7,200 | -3.9% | -6.1% |
| 2005-06 | 1,420,970 | 127,959 | -45,801 | -4,162 | -3.2% | -3.3% |
| 2006-07 | 1,487,963 | 132,880 | -41,864 | -6,357 | -2.8% | -4.8% |
| 2007-08 | 1,567,027 | 142,331 | -46,820 | -5,745 | -3.0% | -4.0% |
| 2008-09 | 1,583,394 | 144,915 | -119,035 | -8,965 | -7.5% | -6.2% |
| 2009-10 | 1,561,331 | 139,773 | -159,551 | -15,047 | -10.2% | -10.8% |
| 2010-11 | 1,630,474 | 147,126 | -141,427 | -12,486 | -8.7% | -8.5% |
| 2011-12 | 1,671,352 | 151,658 | -120,937 | -10,976 | -7.2% | -7.2% |
| 2012-13 | 1,726,983 | 153,095 | -123,561 | -14,723 | -7.2% | -9.6% |
| 2013-14 | 1,806,096 | 159,449 | -103,151 | -13,458 | -5.7% | -8.4% |
| 2014-15 | 1,875,897 | 159,416 | -97,434 | -14,981 | -5.2% | -9.4% |
| 2015-16 | 1,937,570 | 157,204 | -82,409 | -16,637 | -4.3% | -10.6% |
| 2016-17 | 2,022,931 | 162,697 | -55,720 | -16,736 | -2.8% | -10.3% |
| 2017-18 | 2,102,925 | 172,825 | -59,873 | -15,087 | -2.8% | -8.7% |
| 2018-19 | 2,177,222 | 181,659 | -44,913 | -14,183 | -2.1% | -7.8% |
| 2019-20 | 2,249,423 | 183,725 | -61,983 | -16,612 | -2.8% | -9.0% |
| 2020-21 | 2,085,204 | 161,911 | -313,227 | -37,853 | -15.0% | -23.4% |
| 2021-22 | 2,337,907 | 194,371 | -122,155 | -24,899 | -5.2% | -12.8% |
| 2022-23 | 2,531,870 | 212,910 | -132,066 | -19,139 | -5.2% | -9.0% |
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REFERENCES & FOOTNOTES
REAL TERMS CALCULATIONS
The Real Terms calculations above are carried out using the HMT's deflator tables. There are a number of methods for measuring inflation, however when discussing public revenue and expenditure, typically the HMT's GDP deflator is used to calculate the real terms equivalent. We have provided an easy to use Calculator for your convenience here.