Mr Micawber - really? This is the same chap who also said, ‘Welcome poverty!..Welcome misery, welcome houselessness, welcome hunger, rags, tempest, and beggary! Mutual confidence will sustain us to the end!’Sid Bishop wrote: ↑Mon Jun 10, 2024 8:15 pmThe national debt recently exceeded £1 trillion for the first time and is currently equivalent to around two-thirds of annual economic output (GDP).Max B Gold wrote: ↑Mon Jun 10, 2024 8:12 pmHmm - interesting. Is it good or bad news? Should we be worried?Sid Bishop wrote: ↑Mon Jun 10, 2024 7:49 pm Meanwhile while many UK political parties wish to spend ever greater sums of money on public spending such as the the NHS, welfare etc, take into consideration that Government spending is completely out of control and debt repayments on the current national debt in the year ahead is expected to be around 89 billion pounds a year !!
Debt interest (central government, net of APF)
''in 2024-25 we expect debt interest spending to total £89.0 billion. That would represent 7.3 per cent of total public spending and is equivalent to nearly 3.2 per cent of national income''
https://obr.uk/forecasts-in-depth/tax-b ... nment-net/
Mr. Micawber's famous quote....Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds naught and six, result misery !!
Sounds like a real right-wing Tory crank to me, so I wouldn’t take any notice of anything that comes out of his mouth.