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@emmalush wrote:
When new labour broke out of the asylum in 1997, briton was £50,000,000 Billion good.
Some political commentators have guesstimated were upto £900,000,000 Billion down.
Atleast we still own 50% of Washington DC…
National debt is much like any other sort of debt. If you owe £30,000 and you earn £15,000 a year then it may be of some concern to you. On the other hand, if you earn £millions then it would be rather less of a worry.
We all have an understanding of our own personal debt, which may be many times our yearly income – say through mortgages, car finance deals, overdraft, credit card bills – whatever. What matters is our ability to make the payments. It’s no different for governments.
So, national debt too is best expressed as a proportion of the nation in question’s income or Gross Domestic Product. In 1997, when Labour came to power, in Britain it was 44% of our GDP. The figure fell to a low of 29.8% in February 2002 but has climbed since. The Treasury’s prediction for the end of March 2007 is 37.5%: still below the figure the Chancellor inherited.* By comparison, the US is currently running at somewhere over 60%.* France were still over 65% in 2005,*, so were Germany* while Japan were running at nearly 160%.*
So, as a major trading nation, in this respect at least, we’re doing ok. How much importance should be attached to this data as a measure of the rude health of nations, though, I think is open to question.
Indeed, Esme.
I’m afraid I haven’t the time to dally, though, Fester. In any case this thread is supposed to be a celebration of the return of our favourite colonial. I withdraw. I suggest you too tace atque abi.
It’s not your typing that’s letting you down, Fester old fruity. It’s your wits.
:lol: Keep editing, Fester. It’ll make sense soon if you try enough combinations.
:lol: Never mind, Esmeralda. Very pleased to make your acquaintance, dontchaknow.
Ah, Quasi. Right on cue.
Hallo, Esmeralda. Are you Fester’s girlfriend? :D
I do believe the poor old sod is broken. :lol:
Are you getting fruity, old chap? :wink:
Yes Manners, my dear fellow?
