In fiscal year ending March 2017 the governments in the United Kingdom are expected to collect about 37 percent of Gross Domestic Product.
Governments in the UK will collect £716 billion in 2017.
Table 3.01: Total Revenue
In fiscal 2017 the Office of Budget Responsibilty estimates that central government revenue will be £676 billion and that local authority revenue for 2017 will be £41 billion.
Total public revenue in the United Kingdom is estimated to be £716 billion in 2017.
The biggest tax bite is from indirect taxes like VAT and excise taxes.
Table 3.02: Total Revenue Breakdown
In 2017 it is expected that income tax will collect £237 billion, National Insurance collections will amount to £127 billion, indirect taxes will amount to £303 billion, and Business revenue will be £52 billion.
Almost all public revenue is collected by the central government.
Table 3.03: Total Revenue Details
The three big sources of revenue for the UK central government in 2017 will be income tax at £237 billion, national insurance at £127 billion and indirect taxes at £273 billion, for a total of £676 billion.
We estimate local authorities will collect about £30 billion in council tax in FY 2017 and £11 billion in other revenue, for a total of £41 billion.
Indirect taxes are the biggest bite of UK taxes, at 41 percent of total revenue.
Chart 3.04: Total Revenue Details
Total UK public revenue will amount to £716 billion in 2017. Of this 41 percent will be in indirect taxes, 34 percent in income taxes, 18 percent in national insurance contributions, and 7 percent in business and other revenue.
GDP: OBR EFO supp. economy tables
Revenue: OBR March 2017 Economic and fiscal outlook – charts and tables: fiscal
> revenue data sources for other years