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interestrateripoff

Interest Bill On Uk's £1.27 Trillion Debt To Hit £1Bn A Week

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Interest bill on UK's £1.27 trillion debt to hit £1bn a week

I think this deserves it's own thread as it appears quite a significant milestone in our debtalist economy.

Still carry on spending.

Edited by interestrateripoff

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The public finances were hit by a 7pc fall in income tax receipts in April compared with the same month last year to £11.1bn, though the OBR said on Thursday that the data were likely to be distorted by the tax shifting that people engaged in last year. Many people moved bonus payments into April 2013 instead of March in order to take advantage of the reduction in the top rate of tax to 45p, from 50p.

:lol: Gidiot's own fault. Coupled of course with his bonkers plan to cut govt. spending during a depression so reducing growth whilst private sector deleveraging.

Good news for holders of gilts though which is who the Torygraph usually seem to be banging the drum for.

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And to point out the obvious... that's

0.7874015748031496% APR.

Just imagine if that went up!

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Interest bill on UK's £1.27 trillion debt to hit £1bn a week

I think this deserves it's own thread as it appears quite a significant milestone in our debtalist economy.

Still carry on spending.

As the debt interest races off to infinity, it's hard to see how he can ever stop.

2014 £52bn

2015 £59bn

2016 £70bn

2017 £85bn

2018 £110bn

2019 ???

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