Sunday, September 06, 2009
UK public debt worse than USA
It's reported in the Press that UK national debt will reach c. £1 trillion by the end of the year, and when the Office of National Statistics adds-in the cost of bank bailouts to Lloyds TSB and Royal Bank of Scotland, the total should be £2.5 trillion. This will make our position worse than that of the United States, as shown in the graph below.
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