Vague_Boy Posted November 27, 2011 Share Posted November 27, 2011 how can we be rolling in it and yet not have enough money to cover hospitals, roads etc..? Who says we're rolling in it? Here is a link showing the most indebted countries in the world, when public, banking and household debt are combined. LINK You may recognize the country in the top spot, with debt at 497% of GDP. (You're sitting in it.) Some other pertinent links: UK will have the worst public debt in the developed world by 2017 Personal insolvencies at new high in England and Wales if our taxes dont cover the day to day running of our country, then we are doomed are'nt we? Pretty much, but not quite yet. generally speaking, as long as we are have no trouble servicing the debt then we won't be doomed. A lot of our debt is long term (Greece had a lot of short term debt, hence their more immediate problems). 13 years is the average maturity of UK government debt (link). That's the time until it needs to be rolled over or refinanced. We have some time, but how well will we use it? Link to comment Share on other sites More sharing options...
wednesday1 Posted November 27, 2011 Share Posted November 27, 2011 Who says we're rolling in it? Here is a link showing the most indebted countries in the world, when public, banking and household debt are combined. LINK You may recognize the country in the top spot, with debt at 497% of GDP. (You're sitting in it.) Some other pertinent links: UK will have the worst public debt in the developed world by 2017 Personal insolvencies at new high in England and Wales Pretty much, but not quite yet. A lot of our debt is long term (Greece had a lot of short term debt, hence their more immediate problems). 13 years is the average maturity of UK government debt (link). That's the time until it needs to be rolled over or refinanced. We have some time, but how well will we use it? Add a few years on to that for Smarmy Dave's tax cuts at the next election, probably be like p***ing in the wind by then though! Link to comment Share on other sites More sharing options...
ElasticMan Posted November 28, 2011 Share Posted November 28, 2011 (edited) Ignore........... Edited November 28, 2011 by ElasticMan Link to comment Share on other sites More sharing options...
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