fnew on Nostr: The OBR tells us that interest payments on the UK's national debt should cost £73.5 ...
The OBR tells us that interest payments on the UK's national debt should cost £73.5 billion in 2024-25.
Just interest payments, mind you. Not actually paying down the debt. Interest payments that are due every year, and which increase as we borrow more.
The year after, interest payments may well be TEN percent of the government's entire annual tax intake. We already spend more on interest than we do on defence, and soon it will overtake education (110bn) and the NHS (180bn). Borrowing more only makes the problem worse and will lead, eventually, to all of the nation's productive effort being spent on interest repayments for a debt that can never be repaid.
The only sensible conclusion here is to realise that no government, Tory or Labour or of any other stripe, can ever really do anything to resolve this. And with this realisation, to take steps to protect yourself, your family, your business, and your community.
The only route out of this is currency debasement. The purchasing power of sterling will inevitably trend towards zero. Armed with this knowledge, work out what it is you need to do.
No government is coming to save you. You have to do it for yourself.
Just interest payments, mind you. Not actually paying down the debt. Interest payments that are due every year, and which increase as we borrow more.
The year after, interest payments may well be TEN percent of the government's entire annual tax intake. We already spend more on interest than we do on defence, and soon it will overtake education (110bn) and the NHS (180bn). Borrowing more only makes the problem worse and will lead, eventually, to all of the nation's productive effort being spent on interest repayments for a debt that can never be repaid.
The only sensible conclusion here is to realise that no government, Tory or Labour or of any other stripe, can ever really do anything to resolve this. And with this realisation, to take steps to protect yourself, your family, your business, and your community.
The only route out of this is currency debasement. The purchasing power of sterling will inevitably trend towards zero. Armed with this knowledge, work out what it is you need to do.
No government is coming to save you. You have to do it for yourself.