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%.
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On a scale to do with anyone else, none of your business.
More than Prince Charles but less than Ireland.
What's yours tnas ? You can't expect people to answer a question like this without being open about it yourself.
you go first OP
you go first OP
He did, but the willy waving will stop when he eventually attempts to get on the housing ladder 😆
I already did 1.4% and 0%
You don't need to post it up, just puts it in perspective when people lament the government for having essentialy debt of 71% of its earnings, yet loads of people have mortgages at upto 500%
yet loads of people have mortgages at upto 500%
Really? I doubt that.
Yeah, well over 200% here, was over 400% previously. Risky but it paid off
So Wayne and Waynetta living on 100% sate benefits but no HP widescreen TV's are sitting pretty on this international scale.
Not sure if it's fair to rule out the mortgage asssets. Someone repaying a modest mortgage will in the end have a capital asset on their balance sheet. Where as Ireland.....well it will just have paid off a debt.
5x salary isn't uncommon.
0 debt
The difference between their debt and mine is I am buying somthing with a re sale value they are borrowing to do the food shopping.
i dont know why we should compare the two tbh
Government assets aren't counted, otherwise we'd take credit for north sea oil, and the ability to sell off military kit or privatise services.
In theory Irelands debt should have bought it an economy.
In theory your morgage should buy you a house but like the economy it could be worth £0 if prices crash (Ireland) or it falls down (Japan).
5x salary isn't uncommon.
But it's not 'loads' though is it.
it could be worth £0 if prices crash (Ireland)or it falls down (Japan).
Indeed it could, but I'll take my chances thanks.
I've got better things to do then look at my last 12 credit card statements to wrk out my borrowing, so the figures would be
something% of GDP borrowing , and no debt.
0 here too on the basis that nobody in their right mind would give me credit.
No debt, no borrowing, plenty of assets.
just puts it in perspective when people lament the government for having essentialy debt of 71% of its earnings, yet loads of people have mortgages at upto 500%
...err, your comparing apples to oranges. If the government debt is 71% of GDP this is not 71% of earnings.
The governments earnings are what it takes in tax.
Ok, the country's debt then.
You could use all your earnings to pay off debt, but you cant because it needs to be spent on other things.
The govenrment could have a 100% tax etc.........
24.3% of GDP / no debt
May I be the first to state that, since no man is an island, it's highly unlikely he is an autonomous nation state. Accordingly, the rules of governmental debt copmparators don't apply to me.
For that reason, I'm out.
Who cares, its sunny outside if you have not noticed 😉
50% borrowing and 400% GDP 😉
I live in ireland - is it all my fault then?
edit to say, I was at 550% GDP, and I was one of the sensible ones getting a mortgage I thought I could comfortablely afford.
The government. Not doing any sums though I would say close to 3%/0% or so. Still skint.
Given that I pretty much buy everything on a credit card and pay it off each month 0% APR & ~1.2% cash back - I reckon about 50% borrowing & 0% debt
I have a lot more in savings than I ever borrow though, so I'm not really sure your model is fit for purpose
So those saying 0 don't use credit cards at all?
For me it would be 100s of %.
Size 9 to 10 depending on what shop I buy them in