Whole of Government Accounts 2024-25: what changed and who it affects
The Whole of Government Accounts (WGA) 2024-25 provides a consolidated view of the UK government’s financial position for the year ending 31 March 2025. This explainer breaks down what the WGA is, what the latest figures show, who is affected by the government’s financial reporting, and practical next steps for readers seeking to understand or act on the information.
What the 2024-25 WGA shows
The WGA combines the financial results of the central government and certain public corporations to present a single picture of government assets, liabilities, and the overall deficit or surplus for the year. The 2024-25 publication includes a handbook and a consolidated accounts document for the year ending 31 March 2025. It reflects adjustments and new disclosures introduced in 2024-25, and an annex listing entities included in the consolidation. The document is intended to improve transparency and comparability over time.
Key figures you should know
Though the source material is a formal government document, the core idea is straightforward: it shows, in one place, how much the government owns (assets), what it owes (liabilities), and the resulting net position. It also notes updates to the guidance and what entities are included in the consolidation. The inclusion of a handbook means accompanying explanations about how figures are calculated and what counts as a government entity for the purposes of the WGA.
Who this matters to
The WGA is primarily of interest to policymakers, financial professionals, and analysts who monitor government finances. For the public, the figures can influence understanding of government debt levels, capital investment capacity, and long-term fiscal sustainability. The publication of the annex with the list of consolidated entities helps readers see which bodies are included in the totals and how changes in what is consolidated can affect the reported position.
Practical next steps for readers
If you are seeking to compare year-on-year spending and debt, use the WGA as the consolidated reference. Review the accompanying handbook for explanations of terms and how figures are calculated. Check the annex to understand which departments and public corporations are included. If you rely on these figures for decision-making, consider noting any changes in consolidation rules or new disclosures that could shift totals from year to year.
Limits and questions to consider
The WGA provides a broad, consolidated view, but it may not capture every operational detail of individual agencies. It is a year-end snapshot and relies on accounting conventions and policy choices. Readers should consult the accompanying notes and handbook for context about how assets and liabilities are valued, what is included in the consolidation, and any uncertainties disclosed by the government.
Which sources did Setup in Bahrain review?
Setup in Bahrain reviewed the following source material before preparing this explanatory article.
The links remain visible so readers can inspect the evidence, compare dates and context, and confirm current requirements with the relevant authority.
- gov.uk — evidence source reviewed for this article.
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