Who owns the UK government’s debt?
The UK owes approximately £1.8 trillion to a host of different financial organisations. According to FullFact:
- British insurance companies and pension funds own almost a third: about 30%.
- The Bank of England owns about a quarter or 25%.
- Other UK financial institutions like banks own 17%, just over a sixth.
- Another quarter of the government’s debts, about 27%,are owed to foreign institutions. That means the debt and the interest on it is paid out to organisations overseas.