 Lawson also changed the budget deficit from £10.5 billion (3.7% of GDP) in 1983 to a budget surplus of £3.9 billion in 1988 and £4.1 billion in 1989, the year of his resignation.During these years, however, the UK's current account deficit similarly rose from below 1% of GDP in 1986 to almost 5% in 1989, with Lawson asserting that an external deficit based on private-sector behavior is no reason for concern.During his tenure the rate of taxation also came down.