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General Categories => Current Affairs => Topic started by: The Prophet on November 28, 2011, 12:05:49 pm

Title: Government policies are not reducing borrowing or debt levels
Post by: The Prophet 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!

Title: Re: Government policies are not reducing borrowing or debt levels
Post by: Sadie20 on November 28, 2011, 12:23:35 pm

With all the cuts announced, it is surprising that borrowing is still increasing.

Title: Re: Government policies are not reducing borrowing or debt levels
Post by: Philofacts 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