What happened to the UK’s borrowing?

[Philos]

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.

 

[repoman]

Peak Oil, motherfuckers!

 

[dismal]

How is this increasing level of indebtedness sustainable?

That is a fairly alarming growth in debt-to-GDP and such growth in debt-to-GDP is almost by definition not sustainable.

On the other hand, I'm sure some with argue that crazed borrowing is the golden engine of prosperity in an economic slump and will stop when things are better.

 

[jonatha]

Osborne is on track to double the national debt from the level he inherited at the last general election.
.

The Tories have finally caught up with the Reagan-era GOP...

 

[Tigers!]

Depends on what they are borrowing it for. If it is for (useful) infrastructure then it will be good long term. I am not familiar enough with the UK scene to tell.
Though if like Australia's some of the borrow will be useful but the majority is frittered away and have nothing to show except the interest repayments.