Wednesday, January 25, 2012

UK debt passes 1 Trillion

Official UK public sector debt passed £1 trillion for the first time. This is equivalent to 64% of GDP.
  • £1,004 billion.
  • or £1,004,000 million
  • or £1,004,000,000,000
  • or if you prefer 2 billion iPhone 4 costing £499

Does Debt Matter?

Does public sector debt of £1 trillion matter? Well, it depends. Here are some thoughts about whether we should worry about national debt and its impact on future generations.

It is concerning that UK private sector has been slow to fall. Overall UK indebtedness is one of the highest in the developing world. (McKinsey report on debt deleveraging)

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