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Is currently one of the highest in Europe. It's also quadrupled in less than a decade from being a debt that was unsustainable to one that is manageable, if anyone can work that out.
Surely any reduction in GDP or drop in wealth in the UK will result in the debt rising further? So, if a no-deal Brexit is widely expected to create carnage on the UK economy, what will that do for us servicing our national debt?
"carnage" ? Let's leave the politics alone for a bit - a no-deal brexit wouldn't be that bad.Quote:
Originally Posted by Eric the Half a Bee
Do you wonder why the govt. is increasing tax raising opportunities at every turn ? Reducing council budgets. Hanging on to ultra-low interest rates at all cost, and detriment to those who save. It's because us- and others- have been kicking the can down the road for decades, and continue to do so.
Here's another thought. The Govt. had a state/public pension deficit of £7 trillion, of which it thinks it can fund £2 trillion. That's £5 trillion. has to be found to pay out these future, agreed pensions.
Oh, and the UK is one of the better off !!
UK national debt - from memory is something like £1,780 billion and around 85% of GDP - is made-up bullshit used to justify austerity because £434 billion of that is QE; meaning Britain owes that £434 billion to itself and it's nonsense to include it in the national debt total and yet blokes in suits keep saying it without ever being challenged about its absurdity. The real UK debt to GDP is in the 60% to 70% range, and don't let any fecker tell you differently!