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National Debt - United Kingdom
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TOPIC: National Debt - United Kingdom
#196503
Barney

National Debt - United Kingdom 3 Weeks, 3 Days ago  
www.nationaldebtclock.co.uk


Currently, our National Debt is around £2.20 trillion; that is £2,200,000,000,000.

Fifteen years ago, in 2005, it was £467 billion - £467,000,000,000.

There has been many reasons - including having to sort our banks out, at a cost of £500 billion.

But the main reason is slow economic growth necessitating further borrowing - just to pay our bills.

Just like we'll have to do to pay for the Coranavirus - and other - measures announced today.

Never, in our history (even war times) have we ever needed this level of borrowings.

Or taken on so much debt - at such an alarming rate.


Rarely do we have an annual budget surplus - Thatcher was the last Tory PM to have one.

Perhaps it's as well that, currently, borrowing is so cheap.


For the average person to count to 2.2 trillion would take about 65,000 years...


 
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#196504
Barney

Re:National Debt - United Kingdom 3 Weeks, 3 Days ago  
Or to bring our Debt into perspective regarding our average increases - over the past 15 years

These equate to the cost of our NHS (in the year to March 2019) being added on every year; £115 billion


UK plc is akin to an individual using mortgage increases to pay for his daily existence

Fine for a while (unemployment, illness etc.) - but, after decades, something has to give


Coranavirus and Brexit costs may have brought that 'something' just a bit closer

As has our inability to make ends meet - by earning more than we spend...


 
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#196584
Barney

Re:National Debt - United Kingdom 3 Weeks ago  
Soon to be added to our National Dedt will be the £2billion cost of Brexit - and the projected payments for HS2, probably around £80 billion.

Vaugue and unverifiable guesstimates fo Coranavirus expenses are anticipated to exceed £100 billion - so our Debt will soon be on the way to £3T.

Bearing in mind we have yet to negotiate new post-EU trade agreements - and are already forking out £1 billion, every week, in interest on the Debt.



 
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#196623
Barney

Re:National Debt - United Kingdom 2 Weeks, 5 Days ago  
Being a regular poster - on this fine JK site - I occasionally post about complicated (to me) financial government matters.

Like the National Debt, budget deficits - and their consequences.

In the hope that someone will say 'good points/you're right' - 'total rubbish, because' - or tell me something I missed.

Often happens! As, for example, my posts - on this thread - are my thoughts, and haven't been copied from any other source/publication.


Most mates of mine are sports nuts.

Probably music ones on here, in the main...



 
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#196624
wyot

Re:National Debt - United Kingdom 2 Weeks, 5 Days ago  
I would suggest an urgent vote on Brexit...but oh yeah, we can't go out for 6 months...Guess the fools who voted it for will have to suck it up as their businesses - sans all the foreign workers and hit by this virus - go exponentially to the wall...

But at least we have "taken control back" ...
 
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#196630
Honey

Re:National Debt - United Kingdom 2 Weeks, 4 Days ago  
Barney wrote:
Being a regular poster - on this fine JK site - I occasionally post about complicated (to me) financial government matters.

Like the National Debt, budget deficits - and their consequences.

In the hope that someone will say 'good points/you're right' - 'total rubbish, because' - or tell me something I missed.

Often happens! As, for example, my posts - on this thread - are my thoughts, and haven't been copied from any other source/publication.


Most mates of mine are sports nuts.

Probably music ones on here, in the main...





Barney, I dont know or care enough about money to comment, but I enjoy reading your posts about it.

I certainly know more than I would otherwise.
 
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#196816
Barney

Re:National Debt - United Kingdom 1 Week, 6 Days ago  
Barney wrote:
Soon to be added to our National Dedt will be the £2billion cost of Brexit - and the projected payments for HS2, probably around £80 billion.

Vaugue and unverifiable guesstimates fo Coranavirus expenses are anticipated to exceed £100 billion - so our Debt will soon be on the way to £3T.

Bearing in mind we have yet to negotiate new post-EU trade agreements - and are already forking out £1 billion, every week, in interest on the Debt.



The financial consequences of the recently announced measures - for health, benefits, housing, VAT etc. - will also have to be paid for, with money we don't have.

Further increases of £150/200 billion, in our National Debt, are predicted by many seasoned financial experts; it could well be more.

Apart from the coranavirus dangers to our health - the virus also carries financial ones. Some are forecasting the worst peacetime depression since the 30s.


 
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#196825
Green Man

Re:National Debt - United Kingdom 1 Week, 5 Days ago  
wyot wrote:
I would suggest an urgent vote on Brexit...but oh yeah, we can't go out for 6 months...Guess the fools who voted it for will have to suck it up as their businesses - sans all the foreign workers and hit by this virus - go exponentially to the wall...

But at least we have "taken control back" ...


A farmer who I know very well. Has lost huge amount of cheap foreign labour. However he said students are next best thing especially if there's accommodation on the fields.
If it's not students then it's the DWP who have no choice but to take the job.
 
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#197124
Barney

Re:National Debt - United Kingdom 1 Day, 12 Hours ago  
Coronavirus costs are spiralling - with (for example) new Nightingale hospitals, increased benefits, huge equipment purchases - and the furloughing of workers.

The latter is estimated to cost £80 billion, when the self-employed are taken into account. Beneficiaries getting 80% of their salaries paid include employees of multinationals.

Wetherspoons workers - and those of McDonald's, Next, Costa etc., will be paid by the taxpayer; thus helping the share prices to stabilise, to the benefit of shareholders.

So - we (taxpayers) are propping up private companies and increasing our National Debt to fund it! Are we bailing out these entities - and is the Exchequer entitled to a shareholding?


A very serious consequence of virus economics is that our current National Debt interest of £1 billion a week will soon increase dramatically - making severe and longstanding austerity inevitable...


 
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#197125
Barney

Re:National Debt - United Kingdom 1 Day, 11 Hours ago  
public* companies


 
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