Government borrowing for last year = £107,700,000,000

[keith_d]

Yep, that's right. Last year's public sector borrowing requirement was 107.7 billion pounds, or about 20% more than the government received in tax receipts. That sounds like a whole lot of money until you realise that their total overdraft is £1,185,200,000,000.

To put that into perspective, let's share that across the working population of the UK. That's around 29.7 milliion people.

Last years borrowing: £3626 per person

Total government borrowing: £39906 per person.

So, in addition to the taxes I paid last year the government also borrowed over three grand of my future earnings. B***ards!

I wonder how long it will be before the f***ers start congratulating themselves on only borrowing £107.7 billion pounds??

I think they need to sell the debt we currently have to another country so we can use that cash to repay some of our other debts.


By that I mean the debt that is owed to us by Ireland, Greece etc.

[NTECUK]

So you think this guy would do better.
I think not (IMHO)

I think somebody with actual applicable ability and knowledge would do better.

But it's not the guy in number 10 that does all the work, it's the rest of the government that do stuff. The prime minister is little more than a figurehead.

Originally Posted by keith_d

So, in addition to the taxes I paid last year the government also borrowed over three grand of my future earnings. B***ards!

Yes and no.

Much of that can be inflated away over time.

It much better to spend future money than present money because it'll be worth less when we get there.

Plus governments are (almost) always in deficit, it's not a "household" even if people would like to pretend it is.

Originally Posted by Matt-EUC

I think they need to sell the debt we currently have to another country so we can use that cash to repay some of our other debts.


By that I mean the debt that is owed to us by Ireland, Greece etc.

but we get higher rates on that than the debt we owe to others, plus it's worth crap all presently. Selling toxic assets gains a lot less than their end worth.

Your suggestion would result in us being worse off.

China has money.

Originally Posted by Matt-EUC

China has money.

so you would sell profit making debt at a loss to pay off less of our debt than it's worth?

Leaving us with a slightly lower debt but a bigger deficit?

You should run for government then you could sell off parliament and rent it back.

Umm. No.

Originally Posted by Matt-EUC

Umm. No.

That's the outcome of your suggestion.

[PyroUK]

Damn Spank you are on fire! DJ and Matt burned incredibly in just a few days.

Well done sir.