We have a national debt of about £1.5T

[carlzeiss]

If you would like to see the national debt increase then vote for Ed and his pals who would love to spend , spend ,spend

 

[RexCathedra]

Eventually people will figure out that a national debt isn't a index of national moral probity.
And then we'll be able to proceed rationally.

 

[vegster]

How about going into administration and reforming as UK (2015) ? National debt would be virtually wiped out.

What about selling off all our assets and raising money to pay off our debt ? we can sell off the Steel works and Coal mines, the power stations,the water infrastructure, the telephone system, the railways our national airlines and airports etc etc. simples.

 

[Hampster Gull]

At the end of the Napoleonic wars, the UK's debt was in excess of 225% of GDP.
This debt overhang crippled the UK, leaving it unable to participate in the industrial revolution, build railroads, or obtain an empire.

Yes, the industrial revolution powered by Adam Smiths "Invisible Hand", the Empire driving and being driven by capitalism and free trade.

 

[Triggaaar]

Good going to halve the debt from 750bn to 1.5bn. Labour only managed to reduce the debt they inherited prior to the banking crises leading to it increasing.

Er, no they didn't. Debt while labour were in power rose, even before 2008.

 

[dingodan]

We were just as in debt after WWII yet paid it off slowly over time. It just suits the rich to scare everyone and demand cuts for the majority and especially the poor.

By the end of the conflict Britain's debt exceeded 200 percent of GDP, as it had done after the end of the Napoleonic Wars.[4] Once again the US provided the major source of funds, this time via low-interest loans and also through the Lend Lease Act. Even at the end of the war Britain needed American financial assistance, and in 1945 Britain took a loan for $586 million (about £145 million at 1945 exchange rates), and in addition a further $3.7 billion line of credit (about £930m at 1945 exchange rates). The debt was to be paid off in 50 annual repayments commencing in 1950. Some of these loans were only paid off in the early 21st century. On 31 December 2006, Britain made a final payment of about $83m (£45.5m) and thereby discharged the last of its war loans from the US.

http://en.wikipedia.org/wiki/History_of_the_British_national_debt#World_War_II

So the solution there was to borrow from the U.S. under an arrangement which would see us only recently settle the debt which we started repaying in 1950.

Sounds great, maybe we can just borrow off Uncle Sam again, he's always flush for cash. Then hopefully by 2075 our children's children will have finally paid off our debts for us.

 

[attila]

**** the deficit. The bankers caused it, let them pay for it if they're so worried about it. Cancel Trident, spend the money on the NHS.

 

[Seasidesage]

Can't we just invade someone rich but relatively defenceless like say Switzerland and just pinch their money? Worked for most of history...

 

[Hampster Gull]

[QUOqTE=vegster;6875296]What about selling off all our assets and raising money to pay off our debt ? we can sell off the Steel works and Coal mines, the power stations,the water infrastructure, the telephone system, the railways our national airlines and airports etc etc. simples.[/QUOTE]

Yes, those great instituations were much better run by the state. If only we could go back to the golden era of the 70s. Hang on, it may still come via a Labour SNP combo

 

[gordonchas]

Er, no they didn't. Debt while labour were in power rose, even before 2008.

Some people can spout the sort of thing you've corrected, maybe that person even believes it themselves. Often they get away with it.

 

[Hampster Gull]

Can't we just invade someone rich but relatively defenceless like say Switzerland and just pinch their money? Worked for most of history...

Norway would be better. close by, loads of oil, pretty women.

 

[Triggaaar]

We were just as in debt after WWII yet paid it off slowly over time. It just suits the rich to scare everyone and demand cuts for the majority and especially the poor.

Our economy and the world economy was very different then. Policies to keep the debt under control now are nothing to do with the rich.

 

[Triggaaar]

Some people can spout the sort of thing you've corrected, maybe that person even believes it themselves. Often they get away with it.

View attachment 64371

I think they do believe it. Now that we've corrected him, will he change his tune or just move the goalposts?

 

[Seasidesage]

Norway would be better. close by, loads of oil, pretty women.

Dear for a pint though and we may need to occupy it for a while to steal all of their oil? Oh go on then..

Oi Norway what are you looking at?

 

[Hampster Gull]

Dear for a pint though and we may need to occupy it for a while to steal all of their oil? Oh go on then..

Oi Norway what are you looking at?

I think Norway was just eyeing up my girlfriend

 

[RexCathedra]

Yes, the industrial revolution powered by Adam Smiths "Invisible Hand", the Empire driving and being driven by capitalism and free trade.

Didn't happen. Can't have happened -- because of all that national debt.
It's axiomatic.
History is lying to you.

 

[Prince Monolulu]

Norway would be better. close by, loads of oil, pretty women.

Were loose

 

[Diego Napier]

Can't we just invade someone rich but relatively defenceless like say Switzerland and just pinch their money? Worked for most of history...

Indeed it did; our shining empire built by resources plundered from half the world.

 

[drew]

We can end up like Greece and have loads of bailouts!

Looks like someone believed everything the tories said before the last election. We have never come close to the situation that Greece was or is in.

If you would like to see the national debt increase then vote for Ed and his pals who would love to spend , spend ,spend

Stupid comment because under the Tories, the debt has doubled.



The national debt is high but is far from unmanageable at the moment.

 

[dingodan]

Looks like someone believed everything the tories said before the last election. We have never come close to the situation that Greece was or is in.



Stupid comment because under the Tories, the debt has doubled.



The national debt is high but is far from unmanageable at the moment.

Think about how much money we spend on National Defense.

Now double it.

That's our 2016/17 interest payment.