Anna B Posted September 11, 2014 Share Posted September 11, 2014 Am I missing something? According to the OBR, (Office for Budget Responsibility,) Britain will be back in the black by 2018. It says 'Public finances will return to balance by 2018 - 19 producing the first surplus for 18 years.' So what happened to the £1.3 Trillion pounds we owe, and as I understood it is still rising. Link to comment Share on other sites More sharing options...
anywebsite Posted September 11, 2014 Share Posted September 11, 2014 There's a difference between debt & deficit. They mean the government is predicted to stop running a yearly budget deficit (increasing the total debt every year) & could run a surplus in 2018. They'll still be in debt, but it should stop getting bigger in a few years. Link to comment Share on other sites More sharing options...
Flug Posted September 11, 2014 Share Posted September 11, 2014 There's a difference between debt & deficit. They mean the government is predicted to stop running a yearly budget deficit (increasing the total debt every year) & could run a surplus in 2018. They'll still be in debt, but it should stop getting bigger in a few years. But the coalition promised us that the deficit wwould be wiped out before the end of this parliament. More Tory Lies? Link to comment Share on other sites More sharing options...
El Cid Posted September 11, 2014 Share Posted September 11, 2014 In 2010 the Tories promised to ;- act now on debt A five per cent pay cut for Ministers followed by a five-year freeze Link to comment Share on other sites More sharing options...
Penistone999 Posted September 11, 2014 Share Posted September 11, 2014 Am I missing something? According to the OBR, (Office for Budget Responsibility,) Britain will be back in the black by 2018. It says 'Public finances will return to balance by 2018 - 19 producing the first surplus for 18 years.' So what happened to the £1.3 Trillion pounds we owe, and as I understood it is still rising. Thats what you get for electing a Labour government . Link to comment Share on other sites More sharing options...
Guest sibon Posted September 11, 2014 Share Posted September 11, 2014 Thats what you get for electing a Labour government . We have a Tory Government. Since they were elected, national debt has increased by roughly £0.5 trillion. Hurrah for the Tories. Link to comment Share on other sites More sharing options...
hauxwell Posted September 11, 2014 Share Posted September 11, 2014 There's a difference between debt & deficit. They mean the government is predicted to stop running a yearly budget deficit (increasing the total debt every year) & could run a surplus in 2018. They'll still be in debt, but it should stop getting bigger in a few years. What will happen if Scotland Vote Yes? Will this affect paying off our debt? Link to comment Share on other sites More sharing options...
JFKvsNixon Posted September 11, 2014 Share Posted September 11, 2014 What will happen if Scotland Vote Yes? Will this affect paying off our debt? I think that Scotland will have to take some of the debt with them, unfortunately the SNP are saying that if the UK doesn't agree to a currency union with Scotland then they'd consider refusing to take their share of the debt. Link to comment Share on other sites More sharing options...
Ethella Posted September 11, 2014 Share Posted September 11, 2014 We have had a national debt for a long time now. No party could possibly pay off the national debt in 5 years! It was running at 340bn (the highest it had ever been) in 1997 and was approaching 800bn 13 years later and is now over one trillion. Having a spending deficit and not a surplus every year is just increasing the total debt. All any of the political parties can hope to do is try and reduce spending to create a surplus. We (the taxpayer) have had a few surplus years in the last 70 years, but not many. Link to comment Share on other sites More sharing options...
Mr Bloom Posted September 12, 2014 Share Posted September 12, 2014 So what happened to the £1.3 Trillion pounds we owe, and as I understood it is still rising. I'm sure I don't know. Why not check your latest statement from Wonga? Link to comment Share on other sites More sharing options...
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