So as a country we're fairly broke, that's no secret.
What I find amazing is how this is debated by the political class. I read this very interesting article, written by a clever economist. He talks at length about the problems of having a large debt, namely interest payments. Next year the government will spend an estimated £45 billion for just the interest payments on our loans, that's money that wont be spent on anything tangible. To put that number into perspective its more than the defence budget, and more than twice the spending on law and policing. And of course the debt is planned to get worse.
With all these numbers flying around, you'd think people would think about cutting luxurys items from the budget? Maybe the Rolls Royce of nuclear deterrents?
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