Philos
Veteran Member
Folks,
George Osborne has borrowed more in 5 yrs of government than the previous labour administration borrowed in 13 yrs.
http://blogs.spectator.co.uk/coffeehouse/2014/03/budget-2014-the-six-scary-graphs/
Osborne is on track to double the national debt from the level he inherited at the last general election. Public sector net debt (as a percentage of GDP) is rising, not falling.
The chancellor is paying £53 billion interest on national debt in 2014/15.
How is this increasing level of indebtedness sustainable?
Alex.
George Osborne has borrowed more in 5 yrs of government than the previous labour administration borrowed in 13 yrs.
http://blogs.spectator.co.uk/coffeehouse/2014/03/budget-2014-the-six-scary-graphs/
Osborne is on track to double the national debt from the level he inherited at the last general election. Public sector net debt (as a percentage of GDP) is rising, not falling.
The chancellor is paying £53 billion interest on national debt in 2014/15.
How is this increasing level of indebtedness sustainable?
Alex.