£375 MILLION A DAY

mercury_redstone7

mercury_redstone7

Well-known member
We are paying to service debt this country is in.
Doing marvellous since we left the EU to0 with massive growth and growing business.



The lend and lease repayments equated to £719 billion we started it in Mar 1941 ended in Sept 1945 and we finished paying for it in December 2006

We now have a deficit of £2530 billion (2.5 Trillion) We owed £1,008 billion in May 2010.

Good with money the Conservatives
MY AR$E

I hear there is more austerity planned for the next 50 years.
 
There is nothing wrong with debt, nor interest payments. They are a consequence of borrowing and if you are borrowing to spend on things that are worthwhile spending on, or which have a return on investment above the levels of debt then it is a sensible way of running a household/business/country.

The problem with the rhetoric that debt is bad when it is being borrowed to fund public services, infrastructure and other things that benefit society but good when it is being used to bung cash to the already wealthy is the major problem.
 
Nano said:
There is nothing wrong with debt, nor interest payments. They are a consequence of borrowing and if you are borrowing to spend on things that are worthwhile spending on, or which have a return on investment above the levels of debt then it is a sensible way of running a household/business/country.

The problem with the rhetoric that debt is bad when it is being borrowed to fund public services, infrastructure and other things that benefit society but good when it is being used to bung cash to the already wealthy is the major problem.
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Correct. We only ever seem to talk about ‘the debt’ for some reason.

If this country was a business, you would look at both sides of the balance sheet and include the value of all the assets that had been purchased with that debt. But that doesn’t fit the public spending = bad, tax cuts = good narrative.
 
The poor with their heads on the water line, dont mind stepping down a rung on the ladder and drown,
just to help the rich line their pockets.
Rule Britannia!🪜
 
Caused almost entirely by austerity and covid

Why would national debt be a consequence of Brexit?
 
Nano said:
There is nothing wrong with debt, nor interest payments. They are a consequence of borrowing and if you are borrowing to spend on things that are worthwhile spending on, or which have a return on investment above the levels of debt then it is a sensible way of running a household/business/country.

The problem with the rhetoric that debt is bad when it is being borrowed to fund public services, infrastructure and other things that benefit society but good when it is being used to bung cash to the already wealthy is the major problem.
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The world revolves around taking on debt. I think if you are borrowing and spending on planned infrastructure, to improve the economy or social conditions.

I do suppose HS2 was financed to improve the economy in the long run, with the spin off being obvious new towns/ developments springing up around the planned commuter stations. but loans that are costing £375 million a day just in interest dear me, am I missing the point about planning the outlook and progress of the country.

Haven't we written off billions due to covid fraud?
 
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mercury_redstone7 said:
The world revolves around taking on debt. I think if you are borrowing and spending on planned infrastructure, to improve the economy or social conditions.

I do suppose HS2 was financed to improve the economy in the long run, with the spin off being obvious new towns/ developments springing up around the planned commuter stations. but loans that are costing £375 million a day just in interest dear me, am I missing the point about planning the outlook and progress of the country.

Havant we written off billions due to covid fraud?
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The national debt was over £2 trillion before we left the EU

Any consequence of leaving the EU could be argued as being linked to a decline in tax revenue

So you've not explained why the debt is linked to Brexit
 
WJH. said:
The national debt was over £2 trillion before we left the EU

Any consequence of leaving the EU could be argued as being linked to a decline in tax revenue

So you've not explained why the debt is linked to Brexit
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How about something to do with the loss of 4% GDP (OBR estimate) which will adversely impact corporate revenue and hence tax take, meaning less available to pay down debt?
 
WJH. said:
The national debt was over £2 trillion before we left the EU

Any consequence of leaving the EU could be argued as being linked to a decline in tax revenue

So you've not explained why the debt is linked to Brexit
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We had an 80 billion deficit with the EU 2022, but a gain from trade of 12 billion with other countries. Brexit has caused supply issues weakening our industries. If we continue to be uncompetitive we will end up having to borrow more money.

Spending and income causes the Govt to borrow money.
 
speckyget said:
How about something to do with the loss of 4% GDP (OBR estimate) which will adversely impact corporate revenue and hence tax take, meaning less available to pay down debt?
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The 4% prediction was from a 2016 estimate I believe. It's completely wrong modelling. And again even tax receipts were down, the office for budget responsibility would have shown that public budgets needed to be cut or spending needed to increase.

You haven't shown any numbers that show there's any link to Brexit

mercury_redstone7 said:
We had an 80 billion deficit with the EU 2022, but a gain from trade of 12 billion with other countries. Brexit has caused supply issues weakening our industries. If we continue to be uncompetitive we will end up having to borrow more money.

Spending and income causes the Govt to borrow money.
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Where the evidence tax receipts are down and we have created debt to finance spending rather than budget cuts.

EU trade has increased.

Also you've completely ignored austerity and covid.

Anyway I look forward to some budget numbers from you to confirm this is because of Brexit
 
What the media don’t like to say is most of that “debt” is effectively owed by the government to the government.

Politicians, particularly Tory ***** like to make people think the nation debt is like household debt. It’s nothing like it.
 
WJH. said:
The 4% prediction was from a 2016 estimate I believe. It's completely wrong modelling. And again even tax receipts were down, the office for budget responsibility would have shown that public budgets needed to be cut or spending needed to increase.

You haven't shown any numbers that show there's any link to Brexit



Where the evidence tax receipts are down and we have created debt to finance spending rather than budget cuts.

EU trade has increased.

Also you've completely ignored austerity and covid.

Anyway I look forward to some budget numbers from you to confirm this is because of Brexit
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As I think you are probably aware, Treasury figures do not now strip out Brexit impacts, and this is probably not practicable given the impacts of the pandemic and Ukraine war. Both of which have served to mask the true Brexit effect.
 
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