The UK Budget Deficit

HM Government last week announced to Parliament on Wed 19th March, the annual budget.

[https://www.gov.uk/government/topical-events/budget-2014]

In all the facts the figures, some key numbers about the UK public finances are still very concerning.

HM Government will spend more than it earns in just the year year 2013-14, to a tune of £120 billion. Thus borrowings for 2013-14 of £120 billion.

For 2014-15, again another budget deficit year, and could be as high as £96  billion.

It is forecast that in 2018-19, HM Government will have a surplus of £2 billion in that single year. But between now and 2018, each year the government will spend more than it earns, and the only way to bridge that gap is via borrowing.

So just in the past 12 months, and the next 12 months, the structural debt will increase by 120 Billion + 96 Billion = £216 Billion.

The numbers are vast. The public finances are in a terrible state. To quantify simply £1 Billion, that is 1,000,000 (1 million people) in a line, each with £1000. That is ONE BILLION

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