Uk National Debt Over £2 Trillion

[Gromit]

More than 100% of GDP.

When Labour left office in 2010 the National Debt was less than £1 Trillion, so the Tories have managed to double it. Will the electorate ever forgive the Conservatives again for trouncing the economy?

https://markets.businessinsider.com/news/stocks/uk-national-debt-tops-2-trillion-first-time-history-2020-8-1029523359

[dannyk13]

jno,I accepted what you posted, but you have not said how it is relevant to the national debt.

[RobNorth]

Two trillion pounds is not so much, only twenty railway lines...
Using Peter Pedant's terrifying 1 million pounds a day example we would go back to the battle of Culloden in 1746 to pay for HS2

[ichkeria]

Hasn't Germany just extended its furlough scheme by two years, btw.

It is the government's doing that we are in massive debt. Whether one uses the word "fault" or nor is another matter.
It wasn't inevitable that it should be like this. A government might have opted not to close everything down. Whether that is a good thing or not ... Someone mentioned, Sweden, which went down an alternative path indeed.

[ToraToraTora]

100% of GDP is like having a mortgage for 1 x salary.

[Zacs-Master]

A trillion is a thousand million. 2 trillion = 2000 days = 5.4 years.

[jno]

I didn't say it was relevant to the national debt, dannyk, I just answered your question as I quoted it in full. I'm trying to be helpful here.

[dannyk13]

ich, If the government had not decided to spend the money on helping to prevent a collapse in the economy worse than it is what do you think would have happened.

[naomi24]

Jno, //One minute ABers are squealing about how the government's response to Covid will destroy the economy for years. //

It will. I don’t think anyone is in any doubt of that.

// The next minute it's hey, no problem, of course Covid's going to be costly, not the government's fault at all.//

Who said it’s no problem? Or are you making that bit up?

[dannyk13]

jno OK.

[ToraToraTora]

what we now call a Trillion, is 10**12 is an English Billion, the US Billion is 10**9 - known in English as a Milliard. A US trillion is 1000 US Billion

[jno]

RobNorth, the South Sea Bubble crash was in 1720. Britain paid it off in 2015.

[Gromit]

National Debt.

May 2010
£979.8 Billion

March 2019 (Before Covid)
£1,821.3 billion

Today
£2 Trillion

The national debt had doubled under the Conservatives in just 9 years.
But you can delude yourselves into blaming covid ( for everything).

[ToraToraTora]

my post at 11:20 was for ZM at 11:17

[dannyk13]

Gromit, the only deluded person here is you.

[ToraToraTora]

so, gromit, you want us to return to austerity?

[allenlondon]

It’s like decimalisation all over again.

[ichkeria]

" If the government had not decided to spend the money on helping to prevent a collapse in the economy worse than it is what do you think would have happened. "

Like I say, they could have opted not to close everything down.
Not saying they should, but they could

[Zacs-Master]

The common acceptance of a trillion is 1000 million. In 1975 Chancellor Denis Healey announced that the treasury would adopt the US billion thenceforth.

[teacake44]

All this debt will be done and dusted in a couple of weeks, don't worry.

[jim360]

You keep using trillion when you mean billion. I'm sure it's just a typo/accidental brain-freeze, but may as well be accurate.