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RE: Debt Tsunami Starting to Engulf UK Economy.
According to this resource: http://www.ukpublicspending.co.uk/uk_debt
UK Debt is only around 75% of GDP, which while not fantastic, is a far cry from other economies that are easily over 100% in debt.
Also, their interest payments are fairly low, fluctuating between 2.5 - 3% roughly based on the charts provided.
While I think any national debt is a problem, I don't think the UK has as big of a problem as China or the U.S.A.
@talltim This number does not include the £500 billion of debt incurred to save the banks. For some reason the government chooses to keep that off their balance sheet. The 900% I talked about includes government debt, unfunded government liabilities, corporate debt and personal or private debt.
Fair enough, just wanted to bring another set of charts to the post. Its rather scary how things diverge from the "official" reports.
According to the government's own numbers it is about 88% and that is without counting the £500 billion bank debt. https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/aprtojune2016
I suppose the real problem is "creative accounting" when it comes to governments hiding debt.
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