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What is National Debt?

What amount is Britain's national debt?

  • I keep hearing lots of different figures, first I heard it was something ridiculous like $12 Trillion or something, then I read today it was about $189 billion, so what is it exactly? Do the different figures take into account foreign and public debt? And what is the foreign debt amount and the public debt amount? Also how does the UK's debt compare to other countries and how many years would it probably take for the UK to pay it off? Thanks.

  • Answer:

    According to the Office of National Statistics, the UK's net debt was £893.4 billion at the end of April 2010. The figure of £157 billion that is often mentioned in the press is the estimated borrowing for the year 2010/11. If we do borrow this amount it will add that much to the debt, pushing it to around £1,050 billion - or £1 trillion.

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Britains official public debt in 2010 is £700 billion, with yearly interest payments due of £70 billion. The numbers you keep hearing about are projections, not actual numbers. Britains projected public debt in 2015 will be £1.4 trillion.

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Britain's national debt is about 1.4 Trillion GBP- equivalent to almost 80 per cent of the country's economy- after Alister Darling.

mark m

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