Yesterday (Thur 5th Dec 2013) HM Government, announced spending plans, and also the public spending numbers for the next 5 years.

The numbers are very clear, HM Government will continue to spend more money than it earns, and for the next 5 years will run a budget deficit each year, and thus have to borrow to bridge the gap between income and expenditure.

2013-2014 = £111,000 Million = £111 Billion
2014-2015 = £96,000 Million = £96 Billion
2015-2016 = £79,000 Million = £79 Billion
2016-2017 = £51,000 Million = £51 Billion
2017-2018 = £23,000 Million = £23 Billion

∑ (£111bn + £96bn + £79bn + £51bn + £23bn) = £360 bn

So the structural debt of the nation will grow over the next 5 years by only £360 bn.

The OBR (Office of Budget Responisbility) predict in the year 2018-19 that their will be a potential budget surplus (income from taxation is greater than government expenditure) of £2.2 bn. The last time the UK government had a budget surplus was in 2001.

What no one ever mentions that it will take decades to repay the outstanding debts.