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UK Government & National Debt


Active Member
(Not a very enticing thread title I realize!)

Is it me or do continung news stories about the Government generally wasting money (both the current administration & fomer) carry no surprise any longer?!

Have just read on BBC News how the UK is in-line to reveive £1bn worth of penalties by the EU because of accounting mistakes made by Government departments. One billion?! I know the scales are huge, but a fine that large seems absurd. I know this small fine is just a drop in the ocean, or 1/1000th of the National debt!!

The UK national debt clock is still ticking fast. We already owe more than £900 billion to investors at home and abroad. The Government says our debt will hit £1,043 billion by April 2011 and £1.2 trillion just one year later. Yes, that really is £1,216,000,000,000.

To pay this year's £43 billion interest bill, every household will stump up more than £1,800 in tax. That's not a joke - that really is how much it's going to cost you. The UK's national debt has become so astronomical that it's hard to make sense of it anymore.
Has everyone else lost absolutely all faith in politics and government, or is it just me? I never had a great deal, but there was a little hope somewhere at one stage, I'm sure.

Rant over!

Oh and to top it all off, we have Sir Phillip Green as a Government advisor on waste within departments in an effort to save cash, the same Philip Green who sends all his profits off to his wife's bank account in an off-shore tax haven. Brilllliant.


Active Member
But it's alright, we're all in this together, right?

Of the 29 Ministers entitled to attend Cabinet meetings, 23 have assets and investments estimated to be worth more than £1million.


Active Member
Typo said:
and it's no help having the Blue fat cats running the country as well.
That's my point, it doesn't matter which party or coalition is running the Country, they're all as bad as each other.

In 1997 Labour inherited a budget that was actually in balance. After a painful and turbulent decade under the Tories, the public finances had finally been brought under control. But after four years in office Gordon Brown took out the country's credit card and let rip. By the end of 2009-10 our annual deficit had ballooned to £170.8 billion.

This graph shows how the UK's budget deficit has fluctuated as a percentage of the country's economic output (GDP):


Active Member
Honestly, does anyone believe we are in such financial crisis (UK National Debt) ? I mean the amount of money we loosing, through legislation, ppp policy's, EU law, bail outs and Humanitarian Aid (which only lines the pockets of the country's military and government.), should have sunk us by now, and those responsible would(should) have lost their jobs, I'm sorry, National Debt is a coined phrase to scare Joe public into digging deeper into their pockets, its just another excuse to tax the working man out of a little more money.

If its real, then where are the receipts and invoices? where is the paper trail of all the money we are generating to pay off this "National Debt" ... I haven't seen a scrap of evidence or proof of this debt and or where our tax's are going to in recovering from this debt.

Additionally if the country was in such dire straights, the banking industry and national multicorps wouldn't be handing out massive bonuses. In all honesty, I wouldn't be surprised if this additional taxation under the guise of National Debt isn't going directly to funding the ongoing conflicts in Iraq and Afghanistan, and future deployment in the Iran.

just my take on it.


Staff member
We have a debt like every other country but if all the countries agreed they could wipe it out with a bit of paper work and zero the balance between countries, the debt is only relevant to things like taxing and 'world' value as we can't have places like africa being richer than western countries so the debts don't get cancelled....got to keep the poor countries so the richer ones actually look rich

Personally I don't think you can blame labour for the debt either, most of the debt is down to having to bail out the banks for their cock ups, which they then get bonus's for...... something just isn't right there.....

Then we're also being affected by local (ie EU) economic issues (ie euro being a stupid idea) devaluing our currency etc meaning cost of doing trade outside of eu is more expensive and importing things from cheap places like china is more expensive, it has a huge impact all round.

And it's all very well the likes of Conservatives blaming Labour for the debt but I haven't heard them come up with a better solution or even suggest anything to the financial crisis that hit the UK at the time, it's not like we could lose the banks.....

I also love how, lib dems are basically rolling over for the conservatives and like the last time they were in power the conservatives want to sell off/privatise the last remaining country assets (ie post office) - good old thatcherism...

And the government finance people are stupid in my opinion, it's basic economics/finance that shows a higher cost will not necessarily induce bigger profits, all it will do is stiffle the people spending cash. If they wanted to make money it would have been better to lower vat to 15%, thus encouraging people to go shopping as the prices would appear cheaper....

It's proven in every sale that more people go shopping when it's cheaper as psychologically it's better value, 99% of time the companies are still making a profit on the goods even in a sale.

(hyperthetically) So what's better 20% on 80% of year on year sales or 15% on 100+%......

Unfortunately people with money don't realise how bad it is for people who don't have the luxury of a cushion of spare cash laying around....


Junior Member
the new idea of goverment saving by axing 25% of most industies they own such as nhs,police as stupied but as for they pay oh that dosent change at all and they dont pay a morgage. how about there morgage gets taken off there pay cheques yearly and given a free bus/train tickets. how much would that save and cutting down on foreign aid cause it was cant save our selves how are we ment to save other peaple


Senior Member
well the national debt (not including personal debt like mortgages etc) is £56,000 per person.

Explained litterally - if you took £50 notes and threw one away every second of every minute of every hour of every day of every week of every year..... it would take more than 3000 years to throw away what the government currently owe.

Money that doesnt actually exist.


Senior Member
I think the thing that has always made me chuckle is the mess between the different governments.

Current government will blame the previous government, in this case the current government swear they were going to reduce national debt to get into power, yet they do this by borrowing more money and make the situation worse...and repeat.

I envy Japan. They are lucky enough to have a (somewhat enforced) government policy of spend 3% on military! This is not an anti armed forces rant, I just think Japan have it right, more money to spend on crazy things like police and healthcare!


Active Member
It doesn't matter which party or government is in, they all look after themselves, blame other people and still have better pension plans than the people they serve.
the cary thing for me in the UK is Cameron. He has never run a business, is not a businessman. The UK needs someone with huge business savvy to sort things. (hire a banker).

We can just write off debt between countries as a lot of that money loaned is the accumulated cash of people like you and me.

Also why does no one talk about the effects of population growth. Economic hardship is inevitable the world over - and its due to population, end of