UK National Debt Surpassed £1 Trillion
Mainstream media headlines today are focused on Britain’s record national debt, which just surpassed £1 trillion, a figure that can only exponentially increase unless the entire mechanism of Government finance is overhauled. The truth however is much worse, factoring in all liabilities including state and public sector pensions, the real national debt is closer to £4.8 trillion, some £78,000 for every person in the UK.
https://www.nationaldebtclock.co.uk/
So i don’t think we can afford to be paying overseas aid mike. It’s like one giving to charity on a credit card that you can never afford to pay back. Then the balliffs will be around at some point. Our goverments is the IMF.
This debt will only grow and soon it will be no longer serviceable gdp is gonna take a huge hit because of the covid shutdown of the economy. Covid is adding to the debt hugely. The current lockdown and jobs losses are set to add more misery to the purse strings and so taxes will have to rise in the short term, but it will make no difference as more tax revenue is lost and more £££ will have to be loaned. To service the debt.
It not just the uk it’s lots of western countires and we all know what happen to greece I wonder how it’s is before more counties essentially go into adminstration and call in the IMF.