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The Government borrowed £27bn last month.

Hierophant
Hierophant Male
11 days ago
That's £17bn above December 2021, and the highest since monthly records began in Jan 1993. Interest payments were £17bn, pushed up by inflation (index-linked gilts accounting for £14bn of total).
Our total debt — £2.5 trillion — now 99.5% GDP.

Makes my credit card bill look positively minuscule.
Do you have much in the way of debt or do you adhere to the old adage "never a borrower or lender be"?
Is debt nothing to be concerned about?.....
NoneOfTheAbove
NoneOfTheAbove Male
11 days ago
It's no great surprise that interest payments have gone up though is it.  The base rate was at 0.25% back then (and through most of the pandemic when QE was being used here, and across the world, to keep the economy viable) to 3.50% now.Plenty of water under the bridge since then, no-one could have foreseen the knock on global after shock of the pandemic, and the war in Ukraine which collectively have caused ripple effects to push up inflation resulting in global central banks increasing historically low interest rates to try and reign that in.

It's economics innit.
Pboro Trevor
Pboro Trevor Male
11 days ago
I suspect that if they had not spent all that money over Covid and Inflation we would be in a far worse place than we are now.
Samx
Samx Male
11 days ago
The government has been spending recklessly both during Covid and now. As a consequence they keep printing money. This in turn hikes up inflation. It seems that the Tories are as reckless as the Labour Party was. There seems to be no way out of this complete and total economic mess. It is easy to find events and people to blame. Less so oneself. It will be us, the general public, who will have to shoulder the consequences. I’m taking precautions by keeping some money at home, have no debts and pay my credit card, if used, in full. It is astonishing, how some people are blind to the truth and still believe everything will be fine, when it is clearly not.
On-The-Beach
On-The-Beach Male
11 days ago
Nope. No loans, mortgages or debt of any kind here although, despite my fab DIY solar panel setup grabbing free energy when our local nearby star appears overhead, my gas meter is now gobbling cash quite ferociously! That's not debt though but it does, for the first time, make me wonder as to how homes with families or people with dependents to look after are actually keeping their central heating or other heating on or, at least, partially on.
Pixiefluff
Pixiefluff Female
11 days ago
No I don't have any debts at all... 
Colonel_Blink
Colonel_Blink Male
11 days ago
NoneOfTheAbove Male
1 hours ago
It's no great surprise that interest payments have gone up though is it. The base rate was at 0.25% back then (and through most of the pandemic when QE was being used here, and across the world, to keep the economy viable) to 3.50% now.Plenty of water under the bridge since then, no-one could have foreseen the knock on global after shock of the pandemic, and the war in Ukraine which collectively have caused ripple effects to push up inflation resulting in global central banks increasing historically low interest rates to try and reign that in.

It's economics innit.


it is innit!
Hierophant
Hierophant Male
11 days ago
Oh well at least Beach actually read my full post instead of launching into yet another rant about covid money being money well spent.
You're a rarity Beachy, God knows what we'd do without you....
G-O-W
G-O-W Female
11 days ago
Do you have much in the way of debt or do you adhere to the old adage "never a borrower or lender be"?

Best not to loan anything you can't afford to actually give in my experience.
No, I don't have debt.
I have a fear of debt collectors (sorry FBF) from experiences linked to my ex.
I had a loan for my car, but paid that off 4 years ago.
BOYDEL
BOYDEL Male
11 days ago
Without mortgages becoming available to ordinary working people from the 1920s/30s - UK might still have 80% of people in Rentals - and obliged to pay ever increasing Rents until they croak.

Council Rents for example are up 20 fold since 1979 and will rise another 7% in April.

Mortgage debt is often described as good debt - as it is backed by an asset which is usually increasing in value - whilst the alternative is to pay Rent for say 60 odd years of an adult lifetime - overall latter costs about treble that of buying like for like property as a young adult - with added bonus that you can survive on a far smaller pension once retired.


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