Tuesday, July 21, 2009

The real cost of new Labour is becoming clear…

UK debt hits a record of £799bn

''Total outstanding government debt in the UK has risen to a record £799bn, or 56.6% of UK GDP - the highest since records began in 1974. New borrowing in June was £13bn, almost twice as much as a year ago, the Office for National Statistics said, after the downturn shrank tax receipts.''

Posted by hpwatcher @ 12:10 PM (831 views)
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2 thoughts on “The real cost of new Labour is becoming clear…

  • Three cheers for the accountants that kept the figure below £800bn. £799bn looks rather better.

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  • A billion in scientific terms is a million million but in money terms it’s only a thousand million. A million is 1,000,000
    so £799bn million pounds is £799,000,000,000

    There are officially 61 million people in the country so by my o level maths reckoning thats

    £799,000,000,000 divided by 61,000,000 = £13,098.36

    So the government on our behalf they have borrowed £13,098.36p for every man, woman and child in the country.

    I think someone needs to tell them to STOP!!

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