The forecast for the UK’s Public Administration and Defence, Compulsory Social Security output suggests a notable expansion from 2024 to 2028, moving from 219.58 billion GBP to 259.50 billion GBP. This steady growth reflects a compounded annual growth rate (CAGR) of around 4.2% over the five-year period. In 2023, the actual output was lower, marking the beginning of an upward trajectory for this sector.
Future trends to watch for include potential impacts of geopolitical tensions on defense spending, changes in public administration efficiency due to technological advancements, and evolving social security needs prompted by demographic shifts such as an aging population.
