#UKisbroken debt reality

I haven't really got time for this now but I was thinking about it on my early morning bike ride. All the talk is about a new Labour leader required to move even further left - so more spending, more taxation - more debt. No focus on growth - in fact the opposite. Fortunately some are talking about spooking the bond markets even more but most of the socialists are not listening.

The nation needs to wake up. We are heading for the buffers. 

Here are some simple figures :

• To give some meaning to the figures - £1 billion per year would pay for an extra 22000 to 28000 nurses or 18000 to 22000 extra policemen.

• Our national debt is over £3 trillion. £1 trillion is £1000 billion. We are £3 trillion in debt. That equates to every person (approx 67 million of us) in this country having a share of that debt of £46,678. 

• Our national debt continues to rise at an alarming rate - £4186 per SECOND £251,160 per MINUTE £15,069,600 per Hour £361,670,400 per DAY - that is £132 billion per YEAR.

• We are currently paying £100,000,000,000 (£100 billion) each year in interest to service the £3 trillion debt.

• Because the UK government is showing neither the willingness or ability to stop the national debt increasing and with the prospect of an even more irresponsible Labour leader the bond markets who loan the funds to the government will want a higher interest rate because they see the risk of lending to the UK as increasing. Many people think we are heading for an IMF bailout (when the bond market are not prepared to lend the money because the risk is too high) of bankrupt Britain as happened under a Labour government in 1976. (those hard lessons have been forgotten by the current Labour politicians - assuming they ever knew.)

• The government are currently spending £62 billion per year on defence, £122 billion on education and £210 billion on the NHS

• UK social security spending (welfare) for 2025–26 is forecast at £333.7 billion.

This cannot continue. It is madness. If you are not concerned about it you should be. You know what happens to a household that refuses to live within their means. They end up broke/bankrupt and homeless. Welcome to the UK. We are in a parlous state . Potentially the new Greece but worse.