From figures published May 2010, UK public sector net debt was £903.0 billion. (or 62.2% of National GDP) – Source: Office National Statistics.
And £850bn was the official cost of the bank bailout.
Notice how close these numbers are? £903.0 billion debt less £850bn from the bank bailout would leave our debt at £53 billion. Relatively speaking this is small beer. Currently we are at 62.2% of GDP, 22nd worst in the world. At £53 bn our debt would be 4%, ranked one of the lowest in the world.
Now I don't claim to be a financial genius, but why arent these figures talked of more often?
Why do the ConDems keep on about the massive cuts needed for us taxpayers to pay back the debt? They could simply force the banks to pay back what they owe. Clearly they couldnt do it all in one go but considering the big bank profits recently they could make a start.
The ConDems seem to enjoy cutting services.
Why else do they refuse to cut Trident?
We are not all in this together.
6 years ago
