Last week the UK Chancellor of the Exchequer made the 2014-15 HM Government Autumn Statement.

[https://www.gov.uk/government/publications/autumn-statement-documents]

Again, the main headline, is the UK Government, is spending more than it receives in taxes.

So for 2014-15 tax year, HM Government will have to borrow £91.3bn (yes billion) to meet all spending  commitments. Or another way of looking at it, the government will spend on top of its income, (tax revenues) £91.3bn. That money comes from issuing Gilts (UK Government Bonds) to investors to bridge the gap.

But this is only for this current tax year. Looking forward, the same is yet to come, more spending funded from more borrowings.

2015-16 the budget deficit is projected to be £75.9bn
2016-17 the budget deficit is projected to be £40.9bn
2017-18 the budget deficit is projected to be £14.5bn

and it is projected by 2018-19 before reaching a £4bn surplus (yes, spending less than income)

So looking at the figures. For the current tax year and the next 3 years ahead, the national debt will increase

£91.3bn + £75.9bn + £40.9bn + £14.5bn = £222.6 billion.

The interest payments on the UK National Debt is now a very large item that has to be paid by HM Government, something that is rarely discussed by the politicians.