>The Office for National Statistics (ONS) said the cost of servicing the country’s £2trn+ debt pile was almost 200% or £5.4bn up on December 2020.
>It is because half a trillion pounds worth of government bonds are linked to the Retail Prices Index (RPI) measure of inflation which stood at 8.4% in December – its highest level since 1991.
Ouch
I wonder how the government is going to blame this on “The Last Labour Governemnt” this time?
Debt has gone up most when tories have been on power (and conditions for us plebs get worse under them) but somehow their voters believe they are fiscally responsible.
When you look at things like Boriss Bridge or failing Grailings misgivings like a ferry company with no ferries…. Its hard to understand why considering the billions of pounds they have wasted.
Aren’t interest rates still historically low for government borrowing?
And this is exactly why no one needs to worry about them putting interest rates up. They’d be screwing themselves if they did.
5 comments
>The Office for National Statistics (ONS) said the cost of servicing the country’s £2trn+ debt pile was almost 200% or £5.4bn up on December 2020.
>It is because half a trillion pounds worth of government bonds are linked to the Retail Prices Index (RPI) measure of inflation which stood at 8.4% in December – its highest level since 1991.
Ouch
I wonder how the government is going to blame this on “The Last Labour Governemnt” this time?
Debt has gone up most when tories have been on power (and conditions for us plebs get worse under them) but somehow their voters believe they are fiscally responsible.
When you look at things like Boriss Bridge or failing Grailings misgivings like a ferry company with no ferries…. Its hard to understand why considering the billions of pounds they have wasted.
Aren’t interest rates still historically low for government borrowing?
And this is exactly why no one needs to worry about them putting interest rates up. They’d be screwing themselves if they did.