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It's not the 'government' paying this particular interest payment is it. It's the Bank of England. If you want to talk about money the _government_ is actually
by nly 3y ago
It's not the 'government' paying this particular interest payment is it. It's the Bank of England.
If you want to talk about money the _government_ is actually paying then you need to look at the portfolio of gilts (government bonds). At current interest rate trends the national debt will be costing the UK £160bn/yr in coupons
£45bn is small potatoes.
- rcme 3y agoThe BoE is wholly owned by the UK government so your distinction is without meaning. And what is the second part of your argument? It’s ok to waste 45B a year if you’re spending a lot of other money?