Country And Regional Public Sector Finances, UK - Financial Year Ending 2021

30th May 2022

Photograph of Country And Regional Public Sector Finances, UK - Financial Year Ending 2021

Public sector revenue, expenditure and net fiscal balance on a country and regional basis.

All UK countries and regions saw a large increase in expenditure in financial year ending (FYE) March 2021 as a result of the coronavirus (COVID-19) pandemic; London had the highest percentage increase compared with the previous year, of 31.0% (£41.0 billion) while Scotland had the lowest increase (21.6%).

All countries and regions had a net fiscal deficit in FYE March 2021; London had the lowest net fiscal deficit per head at £800 while Northern Ireland had the highest net fiscal deficit per head at £9,500.

London and the South East each moved into net fiscal deficit in FYE March 2021 for the first time since FYE March 2010.

All countries and regions saw a decrease in the amount of revenue raised in FYE March 2021; drops in Value Added Tax, Fuel Duty and business rates receipts were the main contributors.

London raised the most revenue per head (£18,430) in FYE March 2021, while the North East and Northern Ireland raised the least (£8,700 and £8,750 respectively).

London had the highest expenditure per head in FYE March 2021 at £19,230 while the East Midlands had the lowest at £15,000.

Expenditure
Total public sector expenditure increased in all countries and regions of the UK in financial year ending (FYE) March 2021. Expenditure grew from £884.2 billion to £1,111.9 billion, an increase of 25.8%.

London accounted for the most expenditure in FYE March 2021, £173.1 billion, an increase of £41.0 billion (31.0%). This was the largest increase in expenditure in the UK in FYE March 2021.

Northern Ireland accounted for the least amount of expenditure at £34.6 billion, an increase of £6.5 billion compared with the year before. Scotland saw the lowest percentage increase in expenditure at 21.6%.

Read the full report at
https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/articles/countryandregionalpublicsectorfinances/financialyearending2021