"I Owe You Nothing" is a debut single by the band, originally released in 1987, that peaked at number 75 on the UK Singles Chart. Following the success of their breakout hit "When Will I Be Famous?", the song was remixed and re-released in 1988 by CBS. The original version appears on the band's debut album, *Push*, released in the same year.

The track soared to number one in June 1988 and maintained a strong presence on the UK Official Chart for a total of 18 weeks. It also found success internationally, breaking into the top 10 in countries including Australia, Belgium, Denmark, France, Iceland, Ireland, the Netherlands, South Africa, and Switzerland. In the United States, it climbed to number 10 on the Billboard Dance Club Play chart. By 2012, the single had received a silver certification, selling nearly 300,000 copies in the UK and a remarkable 3.2 million copies worldwide.

In terms of critical reception, NME's Bob Stanley described the track as "a fair old jiggler" that echoes the style of "When Will I Be Famous." He noted that while the lead vocalist Matt was energetic, he couldn't quite capture the memorable intensity of "Drop the Boy." On the other hand, Sylvia Patterson from Smash Hits referred to the song as "a very smart n'speedy disco fizzler" that delivered an enjoyable listening experience.

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Track listings
7-inch single (1987 and 1988)[4][5]
A. "I Owe You Nothing" – 3:34
B. "I Owe You Nothing" (The Voice) – 3:15
12-inch and cassette single (1987)[6][7]
"I Owe You Nothing" (the Shep Pettibone mix)
"I Owe You Nothing" (Pettibeats)
"I Owe You Nothing" (The Voice)
"I Owe You Nothing" (7-inch mix)
12-inch single (1988)[8]
A1. "I Owe You Nothing" (club mix) – 7:36
B1. "I Owe You Nothing" (The Voice) – 3:15
B2. "I Owe You Nothing" (The Beats) – 2:36
12-inch "Over 18 Mix" single (1988)[9]
"I Owe You Nothing" (Over 18 mix) – 18:01
Note: The record is single-sided, with the B-side labelled as "Nothing".

CD single (1988)[10]
"I Owe You Nothing" – 3:34
"I Owe You Nothing" (Club mix) – 7:36
"I Owe You Nothing" (The Voice) – 3:15
"I Owe You Nothing" (The Beats) – 2:36
US 7-inch single (1988)[11]
A. "I Owe You Nothing" – 3:34
B. "Shocked" – 4:19