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Author Topic: Government policies are not reducing borrowing or debt levels  (Read 10467 times)

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The Prophet

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Government policies are not reducing borrowing or debt levels
« on: November 28, 2011, 12:05:49 pm »
In 1997/98 public sector net borrowing was £9.1bn
By 2004/05 it was £39.1bn.
In 2009/10 it stood at £156bn with our total national debt at £760bn.
In the current year the total debt will have reached £909bn

Since 1998 inflation increase 36% but borrowing increased 1,600%.
So much for cutting spending back then!


Sadie20

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Re: Government policies are not reducing borrowing or debt levels
« Reply #1 on: November 28, 2011, 12:23:35 pm »
With all the cuts announced, it is surprising that borrowing is still increasing.


Philofacts

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Re: Government policies are not reducing borrowing or debt levels
« Reply #2 on: December 02, 2011, 09:21:27 am »
The deficit is likely to be £122billion this year. 
That is the difference between what UK plc has coming in and what it actually spends each year.
Our current overall national debt is 62% of UK GDP at £966billion.  This year's deficit will take the total to £1,088billion
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