UK National Debt

There is a lot of talk in the UK of tax cuts, being proposed by the majority of candidates trying to becoming PM.

However the UK national debt is huge. Cutting taxes when the debt is so huge seems odd if not reckless.

UK general government gross debt was £2,382.8 billion at the end of 2021, equivalent to 102.8% of gross domestic product (GDP)

https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/december2021#government-debt

Courtesy of the UK Office for National Statistics

The reason for the huge debt is that the UK government runs at a deficit, in other words it spends more than it earns in taxation.

Courtesy of the UK Office for National Statistics

The debt is unstainable.

https://www.bbc.co.uk/news/business-62079052

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