{"id":46884,"date":"2019-11-23T08:31:50","date_gmt":"2019-11-23T08:31:50","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=46884"},"modified":"2019-11-23T08:31:50","modified_gmt":"2019-11-23T08:31:50","slug":"10-things-you-need-to-know-about-uk-government-debt","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/11\/23\/10-things-you-need-to-know-about-uk-government-debt\/","title":{"rendered":"10 things you need to know about UK government debt"},"content":{"rendered":"<p>The Jubillee Debt Campaign has written a briefing entitled\u00a0<a href=\"https:\/\/jubileedebt.org.uk\/wp-content\/uploads\/2019\/11\/10-key-facts-on-debt-in-the-UK_Update_Nov_19-1.pdf\">10 key facts about UK debt.\u00a0<\/a>They are worth sharing.<\/p>\n<p><strong>Ten key facts everyone should know before discussing debt issues in the UK:<\/strong><\/p>\n<p><strong>1.<\/strong>\u00a0 A quarter of UK government debt is owed to the UK government itself<\/p>\n<p><strong>2.<\/strong>\u00a0 Three-quarters of UK government debt is owed to people and institutions in the UK<\/p>\n<p><strong>3.<\/strong>\u00a0 Of G7 economies, only Germany has a lower government debt (as a proportion of GDP) than the UK<\/p>\n<p><strong>4.<\/strong>\u00a0 The UK government can currently borrow at the cheapest interest rates in its history<\/p>\n<p><strong>5.\u00a0\u00a0<\/strong>The UK government is paying virtually the lowest amount of interest on its debt in recorded history, as a proportion of GDP<\/p>\n<p><strong>6.<\/strong>\u00a0 UK government tax revenue (as a proportion of GDP) is the third lowest of G7 countries, and well behind other European countries<\/p>\n<p><strong>7.<\/strong>\u00a0 The debt of the UK\u2019s private sector is more than four times as big as that of the government<\/p>\n<p><strong>8.<\/strong>\u00a0 Unsecured personal debt in the UK is rising rapidly<\/p>\n<p><strong>9.<\/strong>\u00a0 The UK economy has the largest deficit with the rest of the world of any rich country<\/p>\n<p><strong>10.\u00a0<\/strong>\u00a0The UK\u2019s finance sector is the most exposed to a crisis of any G7 economy<\/p>\n<p>For a more detailed explanation of each key fact\u00a0<a href=\"https:\/\/jubileedebt.org.uk\/wp-content\/uploads\/2019\/11\/10-key-facts-on-debt-in-the-UK_Update_Nov_19-1.pdf\">read the briefing on UK debt.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Jubillee Debt Campaign has written a briefing entitled\u00a010 key facts about UK debt.\u00a0They are worth sharing. Ten key facts everyone should know before discussing<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2019\/11\/23\/10-things-you-need-to-know-about-uk-government-debt\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-46884","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=46884"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/46884\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=46884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=46884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=46884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}