debtbombshell/ Right now, that debt is growing violently. The Government forecasts it will soar to an eye-watering £1.1 trillion by 2011. To put that in perspective, the UK went bust in 1976 running a budget deficit of 6% of GDP. In 2010 that deficit is going to top 11%. Historically, our debt burden was heavier after World War II. But like any loan, if the money isnt invested wisely we end up borrowing even more. When the Government runs up huge debts and produces nothing to show for it, were the ones that shoulder the burden. This year that burden will grow by £167.9 billion.
Posted on: Mon, 29 Dec 2014 14:43:21 +0000
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