The UK is not as bad as it was in the 1800s

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vetran replied

12 June 2013, 11:24
yes but that was to pay for wars not banker's bonuses.
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suityou01 started a topic The UK is not as bad as it was in the 1800s

12 June 2013, 10:52
The UK is not as bad as it was in the 1800s

In terms of government spending and borrowing, look.

The real risk from government debt is the burden of interest payments. Experts say that when interest payments reach about 12% of GDP then a government will likely default on its debt. Chart 5 shows that the UK is a long way from that risk. The peak period for government interest payments, including central government and local authorities, was in the 1920s and 1930s right after World War I.

So there you have it. And George brought spending in a bit again last month.

We're all good. Move along.
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