For immediate release
- The UK’s national debt has increased by over £186 billion between July 2024 and July 2025. The national debt now sits at £2.71 trillion, up from £2.53 trillion at the end of last July.
- This increase represents an £6,510 increase in debt per household, following figures out today (21 August) from the Office for National Statistics.
- TPA is calling for Rachel Reeves to get spending under control and bring down borrowing.
Britain’s national debt has ballooned by over £186 billion in just one year, new analysis of figures out today (21 August) from the Office for National Statistics (ONS) by the TaxPayers’ Alliance (TPA) reveals. The TPA has been campaigning on bringing down the national debt since July 2024, when it launched a digital debt clock, which currently shows the national debt increasing by £4,956 per second and £428 million per day.
From the end of July 2024 to the end of July 2025, the debt rocketed from £2.53 trillion to £2.71 trillion meaning the current Labour government has racked up £186.2 billion in borrowing in just 12 months. The increase in the last year’s debt alone represents:
- A £6,510 increase in debt per household
- A £5,880 increase in debt per taxpayer
- A £2,726 Increase in debt per person
If it were a government department, the additional debt taken on this year would be the third largest in terms of total spending after the Department for Work and Pensions and the Department for Health and Social Care.
Unless drastic action is taken at the autumn budget, this situation is likely to deteriorate further. The NIESR has warned that there is a £41 billion black hole in the public finances, with this rising to over £50 billion once the chancellor’s pledge to maintain almost £10 billion worth of fiscal head room is taken into account. The TaxPayers’ Alliance is urging Rachel Reeves to get spending under control and bring down borrowing before Britain’s debt spiral does even more damage
Responding, Darwin Friend, head of research of the TaxPayers' Alliance, said:
“The fundamental truth is that Britain has a borrowing problem because politicians have a chronic spending addiction.
“In just one year, Labour have splurged hundreds of billions they don’t have, piling yet more debt onto taxpayers’ backs.
“Ministers must slam the brakes on this reckless debt binge because if the government doesn’t get Britain's financial house in order it will be ordinary taxpayers that suffer.”
TPA spokespeople are available for live and pre-recorded broadcast interviews via 07795 084 113 (no texts)
Media contact:
Elliot Keck
Head of Campaigns, TaxPayers' Alliance
[email protected]
24-hour media hotline: 07795 084 113 (no texts)
Notes to editors:
- Founded in 2004 by Matthew Elliott and Andrew Allum, the TaxPayers' Alliance (TPA) campaigns to reform taxes and public services, cut waste and speak up for British taxpayers. Find out more at www.taxpayersalliance.com.
- TaxPayers' Alliance's research council.
- The TPA are running a campaign on the national debt, including a digital debt clock which shows the debt increasing by £4,956 per second and £428.2 million per day.
- The release from the Office for National Statistics can be found here.