The myth of record debt

This news item was published by BBC on November 18, 2008.

It puts together a number of really interesting statistical records:

  1. Labour made more net debt repayments (£41bn) since 1997 than the Conservatives in 17 years of power(£17bn).
  2. During the last recession, in 1993, the Conservatives borrowed about £51bn. this year, Labour is expected to borrow £64bn.
  3. After WWII, the national debt was about £24bn. In September this year public sector net debt had reached about £645bn.

And it shows how the national debt is independent of Labour and Conservatives.


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