The UK’s Office of National Statistics unveiled Thursday a national debt of £2 trillion. The figures took a collosal jump when the Office of National Statistics added the approximately £1-1.5 trillion debt of Lloyds Bank and Royal Bank of Scotland to the public balance sheet.
This change could push the UK’s level of debt to 150% of national income, taking it back to levels around Wolrd War II.
The news has sparked fierce debates amongst UK politicans.
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If people are not paying their debt then interest is going to rise and the amount owed will rise even if there is no further borrowing. Worrying times.