UK Government Debt

Google `UK national debt' ->

I don't think that it will take long to get as bad as the ~£50Bn pa as it was in the early 90s.

Daytona

I think somewhere between 30% and 40% of GDP, rising towards the latter under Labour, so in a trillion quid economy, your figures look pretty near spot on.

FoFP

Although debt does not include unfunded liabilities such as public sector pensions, which if included would take debt well beyond a trillion.

That's not debt though is it? These pension liabilites could be changed overnight by simple legislation.

The US economy appears to be leveraged at 68%!

So, the US GDP is about $11 trillion in 2003. The UK about $1.7 trillion in

Thus the US economy is 6.5 greater. The debt of the US government appears to be $7.5 trillion / 470 billion greater = 9.1 times greater than the UK debt.

I think Asian central banks trust american dollars to much!

Roland.

Or , I guess, PFI commitments.

DG

Not if the government wants any chance of being re-elected

To whom do the government owe all this money to ? whos richer than america ?

Yes, the question is when will their nerve break and they start selling (since the dollar is on a slide, the value of the asian's dollar paper is shrinking).

They are more likely to be increased in an attempt to buy still more votes.

Why isn't it debt?

Seems to me that in the ordinary meaning of the word, it's exactly that. Money due to someone and payable by a public authority at a future date.

Rgds __ Richard Buttrey Grappenhall, Cheshire, UK __________________________

"Richard Buttrey" wrote

Because it'll be passed to you and me, so it's our debt rather than "government" debt?

So it's still debt then - as I said.? All we seem to be debating is who's liable for the debt.

Rgds

__ Richard Buttrey Grappenhall, Cheshire, UK __________________________

"Richard Buttrey" wrote

There's no debate about that m8

It's going to be us.

I think you're at cross purposes. The OP was suggesting that it wasn't debt. I pointed out that it clearly was.

I made no comment about who picks up the debt, which seems to be the angle you're coming from.

Rgds

__ Richard Buttrey Grappenhall, Cheshire, UK __________________________

It's not a "proper" debt because, as Chris Game alleged, it could be voided at a stroke: the pension rights could be abolished by legislation.

I doubt if that would stand up to scrutiny. After all most people have been contributing to their pension- generally from 5-11% of salary. That would run all the way to the court of human rights.

I do think there may have to be a scaling back of the amount offered though.

Neb

But highly unlikely given the govts. present anxiety to ensure there is a pensions 'safety net' to cater for companies going out of existence. I can't see even this lot cancelling public sector pensions.

On a pedantic note, there was no restriction of the word 'debt' in the OP. I think everyone would understand the term 'debt' in the ordinary course of the word, as something which is owed by one person/organisation to another. If you take the line that any debt could ultimately be cancelled by statute, then whilst no doubt true in the final analysis, it doesn't negate the fact that ** at the moment

Rgds __ Richard Buttrey Grappenhall, Cheshire, UK __________________________