In 2009-10 the Government spent £671.4 billion of our money, despite tax revenues of only £496.1 billion. [Thus a deficit of £671bn – 496bn = £175 bn, that £175bn short fall comes from borrowings]

This issue of spending more (government expenditure) than comes in (taxation) has been going on for years.

In 2011-11 the UK Government had to borrow £120.9bn (a budget deficit of £120.9bn)
In 2012-13 the UK Government had to borrow £119.5bn (a budget deficit of £119.5bn)
Project In 2013-14 the UK Government had to borrow £120bn (a budget deficit of £120bn)

As you can see, run up a deficit each each of £120bn each year for a few year years (borrow £120bn each year from the Bond Market) and the debts run up…..

When you add up all the borrowings, you get to about £1.2 Trillion

Yes, total debt is about £1,200,000,000,000 (£1,200 Bn = £1.2 Trillion)

In 2013-14, interest payments on the total national debt will be about £48 billion (£48,000,000 Million