To put the governemtns £1001billion debt into perspective, how healthy are you on an international scale.
The rules (based on the UN’s rules):
Assets don’t count, a £100,000 morgage on a £200,000 house is a £100,000 debt, nothing more nothing less. A £10,000 credit card and a £200,000 house with no mortgage is still a £10,000 debt.
Earnings are before tax.
Borrowing is new debt from the last 12 months, this includes your monthly credit card even if you pay it off on time every month, harsh but thats the rules.
Debt is your total debt (mortgage + credit card + bak loans etc etc)
The government is borrowing at 11.5% of GDP and its debt was 71% of GDP.
You can’t report a surplus only 0 debt.
1.4% of GDP borrowing and no debt here. The international tagets are 3% and 60%.