UK net public debt 1692 to 2020

Posted on

This is a plot of UK net public debt from 1692 to 2020. Data is from here.

We're used to seeing plots from 1980 onwards. That always makes it look like where we are and where we are going is really worrying.

No, it is not: we can, have and will survive debt ratios vastly higher than we have now.

There is no need to panic. Such things are normal, especially during and after a crisis, and we do recover.

What we should, maybe, worry about is the fact that declining debt always seems to lead to crisis. But that's another issue.