UK National Debt Skyrockets

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UK National Debt Skyrockets

By Capitalists@Work on March 20, 2009 | More Posts By Capitalists@Work | Author's Website

Yesterday’s (Thursday) news but here is some simple statements:

In 2002 interest on UK debt repayments were £22 billion
Last year the debt repayment were £31 billion.
This year they will be £34 billion….and rising
That is a 65% increase in debt repayments in just 6 years. This is before we go back to an inflationary environment where gilt yields will rise, causing the debt to become even more expensive.

Have a look at the graph below from Wikipedia - see what taxes you could have removed, e.g. halved council tax or corporation tax, done away with stamp duty…

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