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UK Public Debt Continues Skyward!

  • Written by Syndicated Publisher 41 Comments41 Comments Comments
    May 3, 2012

    From this Telegraph report about the £126bn (~$200 billion) in borrowing by the U.K. government at the conclusion of their fiscal year comes the graphic below that begs the question, “How different would the chart be if financial interventions were included”?

    Debt in the U.K.

    According to the story, a Treasury spokesman said, “Today’s data shows that the forecast for 2011-12 is on track, with public borrowing down by £11 billion compared to the previous year. This shows that the Government’s plan to reduce the budget deficit is working.”

    Others interviewed for the report were not so sanguine.

    As a point of reference, the population and GDP of the U.K. are between one-fifth and one-sixth that of the U.S., so, the $200 billion in borrowing above is analogous to the $1+ trillion deficits here across the pond.

    Images: Flickr (licence attribution)

    About The Author

    As you may have already deduced, this is not your typical financial blog, accompanied by some run-of-the-mill investment newsletter, and I’m not your typical financial writer.

    In fact, I spent my entire working career as an engineer before retiring back in 2007 at the tender young age of 46. Two years prior to that in 2005 I started writing a blog – The Mess That Greenspan Made – mostly just to poke fun at the housing bubble and the policy makers who had led us down that path.

    Details about the investment newsletter and information about the performance of the associated “model portfolio” can be found here and if there are any questions that I can help answer, just send mail to tim@iaconoresearch.com.

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