Data and politics glossary
Definitions of economic and political terms used in UK Facts' politics coverage.
This glossary defines terms used across UK Facts' Burnham, Party pages, Manifesto Tracker, Area map preview, and Elections & Key Dates pages.
Deficit
The shortfall when government spending exceeds its income over a stated period. It is a flow; debt is a stock measured at a point in time.
Illustration: A budget deficit of £50bn means the government spent £50bn more than it received in taxes that year.
Debt
A stock of outstanding borrowing. Net-debt measures subtract specified assets. Debt changes with borrowing, financial transactions and valuation effects.
Illustration: A £50bn deficit (which already includes the year's interest bill) adds roughly £50bn to debt. But the change in debt rarely equals the deficit exactly: debt also moves with financial transactions that are not counted in the deficit, such as new student loans or Bank of England lending, and with valuation effects, such as exchange-rate moves changing the sterling value of foreign-currency assets and liabilities.
GDP (Gross Domestic Product)
The total economic output of a country in a year. Used as a benchmark for comparing debt, spending, and deficits across countries and time periods.
Illustration: If debt were £95 and annual GDP £100, the debt-to-GDP ratio would be 95%. This is illustrative arithmetic, not a UK estimate.
Real vs Nominal
Real figures are adjusted for inflation; nominal figures are not. The chosen price measure and base period determine what a real comparison means.
Illustration: Your pay rises 7% in a year, from about £36,360 to £38,900 (nominal growth), while prices rise 5% (inflation). Real pay growth is 1.07 ÷ 1.05 − 1 ≈ 1.9%: you can buy about 2% more than last year. Subtracting (7% − 5% = 2%) is a close shortcut when both rates are small.
Fiscal Envelope
The total amount the government has set aside for spending in a particular area or over a particular period. A "tight fiscal envelope" means limited budget.
Illustration: "The NHS has a £200bn fiscal envelope" means the government has allocated £200bn for NHS spending.
Voting Intention
A polling measure of how people say they would vote if an election were held today. Different from actual election results. Subject to significant polling error.
Illustration: A poll showing "Labour 40%, Conservatives 28%" is voting intention. Sampling, nonresponse, turnout and later changes in opinion can all affect the comparison with a result.
Manifesto
A political party's written statement of policies and commitments they promise to deliver if elected. Parties are held accountable to their manifesto commitments.
Illustration: A manifesto might promise "£5bn extra for the NHS" or "reduce inflation by X date".
ONS (Office for National Statistics)
The UK's national statistical institute and the executive office of the UK Statistics Authority. It produces official statistics on the economy, population and society.
Illustration: The ONS publishes monthly inflation figures, quarterly GDP growth, and monthly unemployment statistics.
OBR (Office for Budget Responsibility)
Independent forecaster of UK public finances and the economy. Provides official forecasts used by government in Budget and Spending Reviews.
Illustration: The OBR forecasts whether debt will rise or fall under proposed policies, and how the economy will grow.
Labour Force Survey
An ONS household survey about work and related circumstances. It supplies employment, unemployment and inactivity estimates; headline results use three-month periods and are released monthly.
Illustration: A person without a job is not automatically counted as unemployed: job search and availability to start also matter.
Real Wages
Wages adjusted for inflation. Shows whether workers' actual purchasing power is rising or falling.
Illustration: Nominal wages rose 3%, but inflation was 5%, so real wages fell by about 2% (1.03 ÷ 1.05 − 1 ≈ −1.9%): workers can buy less.
Trade-off
A situation where achieving one goal requires sacrificing another. Policy trade-offs involve choosing between competing priorities.
Illustration: Lower taxes (one goal) require either lower spending (sacrificing public services) or higher debt (sacrificing future fiscal room).
Gilts
UK government bonds — IOUs the government sells to investors to fund borrowing. The interest rate ("yield") investors demand reflects how much they trust the government to manage its finances.
Illustration: A rise in gilt yields after a fiscal announcement means investors now demand more interest to lend to the government, making borrowing more expensive.
Fiscal Rules
Self-imposed targets a government sets for its own borrowing and debt, usually to reassure markets and voters that spending is sustainable. Not written into law in the way taxes are.
Illustration: A fiscal rule might require debt to be falling as a share of GDP by a set year; missing it can spook the gilt market even without a change in actual policy.
Spending Review
A multi-year process, usually run by the Treasury, that sets budgets for government departments for several years ahead, rather than one year at a time.
Illustration: A three-year Spending Review might fix the NHS and schools budgets for the next three financial years.
By-election
An election held in a single constituency between general elections, usually because the sitting MP has died, resigned, or been elevated to the House of Lords.
Illustration: A by-election lets a party leader who isn't yet an MP win a seat and enter Parliament without waiting for the next general election.
Minority Government
A government formed by a party that does not hold a majority of seats in the House of Commons, so it must win support from other parties vote by vote to pass laws.
Illustration: A minority government can lose key votes unexpectedly, making its policy agenda harder to predict than a government with a majority.
Proportional Representation
An electoral system where the number of seats a party wins closely reflects its overall vote share, unlike the UK's current first-past-the-post system for general elections.
Illustration: Under proportional representation, a party winning 15% of the vote nationally would expect roughly 15% of seats, rather than potentially far fewer.
Terms used in the evidence and action plan
Select an underlined term for its definition. Escape closes it. Definitions were checked against the linked sources on 11 October 2026; they are not a claim that every dataset has been refreshed.
Household expenditureMoney a household reports spending on goods, services and the other payments included by the survey. It is not income, and does not include every cash outflow.ONS: definition and context →
Money a household reports spending on goods, services and the other payments included by the survey. It is not income, and does not include every cash outflow.
ONS: source definitionQuintileOne of five equally sized groups, ordered by the measure stated. Spending comparisons here group households by income adjusted for household size and ages.ONS: definition and context →
One of five equally sized groups, ordered by the measure stated. Spending comparisons here group households by income adjusted for household size and ages.
ONS: source definitionEssentialsA limited spending measure on this site: food and non-alcoholic drinks plus housing (net), fuel and power. It excludes other necessary costs and is not a minimum living standard.UK Facts definition: definition and context →
A limited spending measure on this site: food and non-alcoholic drinks plus housing (net), fuel and power. It excludes other necessary costs and is not a minimum living standard.
UK Facts definition: source definitionRTT pathwayA referral-to-treatment waiting record, from referral until treatment starts, or the wait so far. One person may have more than one pathway.NHS England: definition and context →
A referral-to-treatment waiting record, from referral until treatment starts, or the wait so far. One person may have more than one pathway.
NHS England: source definitionFTEFull-time equivalent: a measure of working time, not a headcount. Two half-time posts count as one full-time equivalent post.NHS England: definition and context →
Full-time equivalent: a measure of working time, not a headcount. Two half-time posts count as one full-time equivalent post.
NHS England: source definitionCPIHA measure of consumer-price inflation that includes owner-occupiers’ housing costs and Council Tax. Housing costs use a rental-equivalence estimate, not mortgage payments.ONS: definition and context →
A measure of consumer-price inflation that includes owner-occupiers’ housing costs and Council Tax. Housing costs use a rental-equivalence estimate, not mortgage payments.
ONS: source definitionEquivalisedAdjusted for the number and ages of people in a household, so incomes of different household types can be compared.ONS: definition and context →
Adjusted for the number and ages of people in a household, so incomes of different household types can be compared.
ONS: source definitionChained volume measureA measure adjusted for price changes by linking comparisons between successive years. It describes changes in output or purchasing power, rather than cash values.ONS: definition and context →
A measure adjusted for price changes by linking comparisons between successive years. It describes changes in output or purchasing power, rather than cash values.
ONS: source definitionLevelised costAn estimate of lifetime generation costs per unit of electricity, allowing for when costs and output occur. It is not a household bill or the whole electricity-system cost.DESNZ: definition and context →
An estimate of lifetime generation costs per unit of electricity, allowing for when costs and output occur. It is not a household bill or the whole electricity-system cost.
DESNZ: source definitionEU+In these ONS migration statistics, EU countries plus Iceland, Liechtenstein, Norway and Switzerland. Check the series definition and period; it is not a synonym for all Europe.ONS: definition and context →
In these ONS migration statistics, EU countries plus Iceland, Liechtenstein, Norway and Switzerland. Check the series definition and period; it is not a synonym for all Europe.
ONS: source definitionLSOALower-layer Super Output Area: a small statistical neighbourhood in England and Wales. Its boundary is not necessarily a ward or a community recognised by residents.ONS: definition and context →
Lower-layer Super Output Area: a small statistical neighbourhood in England and Wales. Its boundary is not necessarily a ward or a community recognised by residents.
ONS: source definitionICBIntegrated care board: an NHS body in England that plans services and manages its NHS budget for a defined area.NHS England: definition and context →
Integrated care board: an NHS body in England that plans services and manages its NHS budget for a defined area.
NHS England: source definitionGIRFTGetting It Right First Time: an NHS England programme using clinical reviews and data to identify ways to improve care and reduce unwarranted differences.NHS England GIRFT: definition and context →
Getting It Right First Time: an NHS England programme using clinical reviews and data to identify ways to improve care and reduce unwarranted differences.
NHS England GIRFT: source definitionIPS — employment supportIndividual Placement and Support: an employment-support model integrated with mental-health care. The same abbreviation can mean something else in other contexts.NHS England: definition and context →
Individual Placement and Support: an employment-support model integrated with mental-health care. The same abbreviation can mean something else in other contexts.
NHS England: source definitionNEETNot in education, employment or training. The age range and reference period matter; this group includes both unemployed and economically inactive young people.ONS: definition and context →
Not in education, employment or training. The age range and reference period matter; this group includes both unemployed and economically inactive young people.
ONS: source definitionEconomic inactivityNot employed and not meeting the definition of unemployment: not recently seeking work, or not available to start. It includes students, carers, retired people and people unable to work.ONS: definition and context →
Not employed and not meeting the definition of unemployment: not recently seeking work, or not available to start. It includes students, carers, retired people and people unable to work.
ONS: source definitionAfter housing costsIncome after the housing costs specified by that statistical series have been deducted. Different measures can treat mortgage costs differently; read the stated definition.DWP: definition and context →
Income after the housing costs specified by that statistical series have been deducted. Different measures can treat mortgage costs differently; read the stated definition.
DWP: source definitionPESAPublic Expenditure Statistical Analyses: the Treasury’s annual publication of government-spending data. Its tables cover different spending definitions and periods.HM Treasury: definition and context →
Public Expenditure Statistical Analyses: the Treasury’s annual publication of government-spending data. Its tables cover different spending definitions and periods.
HM Treasury: source definitionTotal Managed ExpenditureA broad National Accounts measure of public spending, covering current spending and investment. It is not just the budgets allocated to departments.HM Treasury: definition and context →
A broad National Accounts measure of public spending, covering current spending and investment. It is not just the budgets allocated to departments.
HM Treasury: source definitionAsset Purchase FacilityThe Bank of England subsidiary used for its asset-purchase programme. The Treasury indemnifies it; transfers between the two are not a separate household tax bill.Bank of England: definition and context →
The Bank of England subsidiary used for its asset-purchase programme. The Treasury indemnifies it; transfers between the two are not a separate household tax bill.
Bank of England: source definitions179 funding ratioScheme assets compared with estimated liabilities on the Pension Protection Fund’s section 179 basis. It is not a measure of every promised benefit or a guarantee of future investment returns.Pension Protection Fund: definition and context →
Scheme assets compared with estimated liabilities on the Pension Protection Fund’s section 179 basis. It is not a measure of every promised benefit or a guarantee of future investment returns.
Pension Protection Fund: source definitionRAGRed, amber or green. On this site it describes delivery readiness under stated conditions, separately from evidence strength, selection or a final approval.UK Facts assessment method: definition and context →
Red, amber or green. On this site it describes delivery readiness under stated conditions, separately from evidence strength, selection or a final approval.
UK Facts assessment method: source definitionAppraisalAn assessment of an option’s benefits, costs, risks and delivery conditions before a decision. An incomplete appraisal is not an approved programme.UK Facts assessment method: definition and context →
An assessment of an option’s benefits, costs, risks and delivery conditions before a decision. An incomplete appraisal is not an approved programme.
UK Facts assessment method: source definitionBaselineThe starting point used for comparison. In policy assessments, the funded baseline means what is already provided or committed before the proposed change.UK Facts assessment method: definition and context →
The starting point used for comparison. In policy assessments, the funded baseline means what is already provided or committed before the proposed change.
UK Facts assessment method: source definitionMarginal changeThe additional change beyond what would happen under the stated baseline. It does not mean the whole programme or sector.UK Facts assessment method: definition and context →
The additional change beyond what would happen under the stated baseline. It does not mean the whole programme or sector.
UK Facts assessment method: source definitionDecision gateA set of conditions that must be met before an option can proceed. Membership of a reviewed list does not mean the funding or decision conditions have passed.UK Facts assessment method: definition and context →
A set of conditions that must be met before an option can proceed. Membership of a reviewed list does not mean the funding or decision conditions have passed.
UK Facts assessment method: source definitionFirst past the postThe candidate with the most votes in a constituency wins its seat. They do not need more than half the votes.UK Parliament: definition and context →
The candidate with the most votes in a constituency wins its seat. They do not need more than half the votes.
UK Parliament: source definitionDevolutionThe transfer of powers from the UK Parliament and government to institutions in Scotland, Wales and Northern Ireland. The powers differ between nations.UK Parliament: definition and context →
The transfer of powers from the UK Parliament and government to institutions in Scotland, Wales and Northern Ireland. The powers differ between nations.
UK Parliament: source definitionWhipA party official who organises its parliamentary business and voting. The word also refers to the voting instructions sent to its MPs or peers.UK Parliament: definition and context →
A party official who organises its parliamentary business and voting. The word also refers to the voting instructions sent to its MPs or peers.
UK Parliament: source definitionShort moneyPublic funding to help eligible opposition parties carry out their parliamentary work in the House of Commons. It is distinct from a private political donation.UK Parliament: definition and context →
Public funding to help eligible opposition parties carry out their parliamentary work in the House of Commons. It is distinct from a private political donation.
UK Parliament: source definitionSection 114 noticeA council finance officer’s statutory report, including when spending cannot be met from available resources. It restricts new spending commitments; councils do not become bankrupt like companies.House of Commons Library: definition and context →
A council finance officer’s statutory report, including when spending cannot be met from available resources. It restricts new spending commitments; councils do not become bankrupt like companies.
House of Commons Library: source definitionAbout these definitions
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