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"at which point they will be in a position to start reducing the size of the national debt" Just to give some context to this, the UK national debt is currentl
by andyjohnson0 11y ago
"at which point they will be in a position to start reducing the size of the national debt"
Just to give some context to this, the UK national debt is currently £1.56 trillion [1]. Reducing this by anything other than a token amount is an enormous undertaking.
[1] https://en.wikipedia.org/wiki/United_Kingdom_national_debt https://en.wikipedia.org/wiki/United_Kingdom_national_debt
- Ntrails 11y agoIf I'm reading the numbers right, we currently spend ~1bn a week on interest payments, out of a total budget of ~14bn a week? So ~7% of our spending each year is just to pay for debt already accrued.