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We have a national debt of about £1.5T



dingodan

New member
Feb 16, 2011
10,080
If we aren't bothered about a £1.5T debt, would we care if it was £3T? why don't we just make it £6T? We could have a big splash on everything we like, NHS can have £500B, we could give benefits to everyone, maybe even just give everyone £1M, that would be a massive stimulus to the economy.

We seem to fret about our debt but it keeps rising anyway, so why fret? Doesn't seem to have any consequence.

We might as well just spend and enjoy it, right?

Who's with me?
 














Horses Arse

Well-known member
Jun 25, 2004
4,571
here and there
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. How utterly incompetent of them to do so whilst building up schools and hospitals.

The Tory's really are at the forefront of economic prudence. Cant see how you could vote for anyone else..... All hail Cameron and co
 


happypig

Staring at the rude boys
May 23, 2009
8,145
Eastbourne
It's about the interest payments,

Nationalise the banks then. There, that's sorted. Now I recon if we up it to a conservative £2.1 Trilion, that gives us 600 billion extra, split 60 million ways thats £10000 each.
Everyone's a winner.
 










gregbrighton

New member
Aug 10, 2014
2,059
Brighton
I have a better idea. Let's tax everyone at 95% for one year. It will kill off those mostly reliant on public services, i.e. the elderly It will wipe out the national debt and we won't need so many hospitals and day centres as a result.
 




seagullsovergrimsby

#cpfctinpotclub
Aug 21, 2005
43,916
Crap Town
How about going into administration and reforming as UK (2015) ? National debt would be virtually wiped out.
 


spence

British and Proud
Oct 15, 2014
9,950
Crawley
Just do a Palace and go into admin and wipe the slate clean.
 


janee

Fur half
Oct 19, 2008
709
Lentil land
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.
 




RexCathedra

Aurea Mediocritas
Jan 14, 2005
3,509
Vacationland
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.
 


Hampster Gull

Well-known member
Dec 22, 2010
13,465
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.

The UK lost much of its wealth, empire and some of its global stature as the price of (by necessity) financially over reaching itself in WWII.
 


RexCathedra

Aurea Mediocritas
Jan 14, 2005
3,509
Vacationland
Government debt seems to be the one thing for which the free-market-olaters aren't content to have the market set the price.

Ten-year UK bonds are at 2.95%. The Market, blessed be It, has spoken.

Why is it wrong? Imperfect information? Illiquid asset? Small market?
 


Tom Hark Preston Park

Will Post For Cash
Jul 6, 2003
72,158
Just do a Palace and go into admin and wipe the slate clean.

It's what Greece along with most of the EU are PRAYING for. And even if it never happens, they can all welcome tourists for six months of the year, stick all the profits under their mattress and close up shop and go work in Athens for the winter months. Same as it ever was.

On a more serious note, there MUST be a huge number of corporate debts that could be cross-charged and written off shirley?
 




e77

Well-known member
May 23, 2004
7,270
Worthing
Depends on what you are spending it on. We do need to spend a lot of money on infrastructure in the next 30-50 years as we let it slide from about the time of Beeching until the mid 1990s. Within reason spending it on education should pay dividends.

We have a way to go with Pensions and care for the elderly but at long last we have made a start. Social security needs to be re-tooled as when it was though up hardly anyone who ever used it had a mortgage and in-work benefits would have been seen as a contradiction in terms.
 


Prince Monolulu

Everything in Moderation
Oct 2, 2013
10,201
The Race Hill
Shirley a detailed comprehensive breakdown of our overdraft must be on a computer somewhere. Couldn't we just turn it off and back on again? Might work.
 


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