This must mean we’ve built a national health care system and have been engaging on extensive large scale building and infrastructure projects for the last decade right?
Right?
🙁
able_limed on
100% debt to GDP is completely arbitrary and pointless.
Holly_Till on
For a country as big as the UK, the deficit isn’t a huge problem, it’s much better to have working services and a higher debt than an ok debt and shit services
chronicnerv on
The real elephant in the room is that Asylum seekers and Migration are the main reason that its is only 100%. They offset the elderly in terms of age and births and after initial help they are more likely to setup a local business and add to the economy, not to mention the skilled labourers, health care workers and technicians.
Meanwhile lets cut funding to our education…
milkyteapls on
Well at least it can’t go higher than 100%… thank the Lord
iamezekiel1_14 on
How could Jeremy Corbyn destroy this country in 78 days? Genuinely. It so wouldn’t have happened if we’d just done a proper Brexit that the people actually voted for and made Nigel PM.
[deleted] on
[removed]
Fresh_Mountain_Snow on
Labour need a rethink on their fiscal rules. Take into account assets when calculating public debt, exclude debt for investment and have debt falling over ten years.
Careful-Swimmer-2658 on
I have way too many friends who will see this and blame Labour for wrecking the economy.
msbunbury on
Now do a comparison between the 1960s and today to show what percentage of the national debt represents money that’s been taken from Treasury coffers and put into the pockets of shareholders…
HorseBarrierRoad on
It’s going to happen again, isn’t it. Another labour bailout by the IMF and all the disruption that entails.
cheapskatebiker on
Omg they are in power for less than 6 months and they already messed it up.
For god’s sake /s
Ready_Maybe on
Considering we just left the pandemic era this isn’t that bad. The US has a worse ratio. It’s still awful considering the amount that corruption added to the debt.
Longjumping-Yak-6378 on
Slow clap. 👏 well done everyone. We did it! 💯 epic. What’s the next record?
mpanase on
1. I take control of your house.
2. I sell all the furniture and split the profit 50/50 between you and my mates.
3. I rent furniture (that used to be yours) so you can still live in your house.
4. A few years later… surprised picachu face
Cool_Sand4609 on
>National debt at 100% of GDP for first time since 1960s
I’m not smart enough to understand what this actually mean.
Kyral210 on
I’m glad we had the fiscally responsible Tory party for the last 14 years 🤣
jmc291 on
You would think that if you took out a loan and decided to never pay it back, the banks would just go crazy.
But if you’re the government, a different story!
*I know it’s slightly different
kitcosoap on
Unlikely to go into reverse either. Mix ageing population, tax cuts or tax hikes which will depress the economy even further (I think we’re past the point where fiddling a few % of taxes here or ther will make any positve difference), low productivity, a housing crisis, an energy crisis, war on the horizon…I expect the debt to just go up and up from now on. That’s what the price of gold is saying
bluecheese2040 on
That’s [insert the current political party] for you…
Thestickleman on
Me thinks Labour are going to bend us over and take us for everything they can all in the name of this apparent 22 billion they keep failing to explain
ionetic on
The US is at 123% (as an example) and they’re not doing austerity:
Almost like the cost of living and the continous rent costs many people find themselves in (I am nearly 40 with 3 kids and “affordable housing” rent at £1100 a month) is not sustainable long term for the economy
Dull-Equipment1361 on
Obviously we need to send more money to foreign governments and NGOs
We will see that return any day now
Charming_Pirate on
2.27 trillion pounds. To put that into perspective, 2.27 million seconds is 26 days, 2.27 trillion seconds is 72,000 years
MrSierra125 on
Wow the Tories did “take us back to the good old days”
MedievalRack on
This is what happens after 15 years of a Labour government.
27 Comments
This must mean we’ve built a national health care system and have been engaging on extensive large scale building and infrastructure projects for the last decade right?
Right?
🙁
100% debt to GDP is completely arbitrary and pointless.
For a country as big as the UK, the deficit isn’t a huge problem, it’s much better to have working services and a higher debt than an ok debt and shit services
The real elephant in the room is that Asylum seekers and Migration are the main reason that its is only 100%. They offset the elderly in terms of age and births and after initial help they are more likely to setup a local business and add to the economy, not to mention the skilled labourers, health care workers and technicians.
Meanwhile lets cut funding to our education…
Well at least it can’t go higher than 100%… thank the Lord
How could Jeremy Corbyn destroy this country in 78 days? Genuinely. It so wouldn’t have happened if we’d just done a proper Brexit that the people actually voted for and made Nigel PM.
[removed]
Labour need a rethink on their fiscal rules. Take into account assets when calculating public debt, exclude debt for investment and have debt falling over ten years.
I have way too many friends who will see this and blame Labour for wrecking the economy.
Now do a comparison between the 1960s and today to show what percentage of the national debt represents money that’s been taken from Treasury coffers and put into the pockets of shareholders…
It’s going to happen again, isn’t it. Another labour bailout by the IMF and all the disruption that entails.
Omg they are in power for less than 6 months and they already messed it up.
For god’s sake /s
Considering we just left the pandemic era this isn’t that bad. The US has a worse ratio. It’s still awful considering the amount that corruption added to the debt.
Slow clap. 👏 well done everyone. We did it! 💯 epic. What’s the next record?
1. I take control of your house.
2. I sell all the furniture and split the profit 50/50 between you and my mates.
3. I rent furniture (that used to be yours) so you can still live in your house.
4. A few years later… surprised picachu face
>National debt at 100% of GDP for first time since 1960s
I’m not smart enough to understand what this actually mean.
I’m glad we had the fiscally responsible Tory party for the last 14 years 🤣
You would think that if you took out a loan and decided to never pay it back, the banks would just go crazy.
But if you’re the government, a different story!
*I know it’s slightly different
Unlikely to go into reverse either. Mix ageing population, tax cuts or tax hikes which will depress the economy even further (I think we’re past the point where fiddling a few % of taxes here or ther will make any positve difference), low productivity, a housing crisis, an energy crisis, war on the horizon…I expect the debt to just go up and up from now on. That’s what the price of gold is saying
That’s [insert the current political party] for you…
Me thinks Labour are going to bend us over and take us for everything they can all in the name of this apparent 22 billion they keep failing to explain
The US is at 123% (as an example) and they’re not doing austerity:
https://en.wikipedia.org/wiki/List_of_countries_by_government_debt
Almost like the cost of living and the continous rent costs many people find themselves in (I am nearly 40 with 3 kids and “affordable housing” rent at £1100 a month) is not sustainable long term for the economy
Obviously we need to send more money to foreign governments and NGOs
We will see that return any day now
2.27 trillion pounds. To put that into perspective, 2.27 million seconds is 26 days, 2.27 trillion seconds is 72,000 years
Wow the Tories did “take us back to the good old days”
This is what happens after 15 years of a Labour government.
All that spending!