Quote Originally Posted by Terpe View Post
Sadly, although the deficit is reducing government borrowings are increasing.

UK debt ?? ...now that is another matter. That is increasing alarmingly and probably stands at well over a £1 trillion now with little prospect of a slow down or reversal any time soon.
Yes Peter 1.29 trillion Quid and the debt clock keeps ticking.
Fortunately,interest rates are low for debtors....For now.
What worries me is that we hardly hear about it from Politicians anymore.. I think its because none of them have an answer,let alone a long term policy to reduce UK debt..
I read somewhere that the U.S constitution allows the FED to just print $$`s without a reserve of gold to clear debt ..
Pretty cool huh!!


The role of the bond market

The British Government borrows money by selling bonds, known as 'gilts'. These bonds are sold at regular auctions held by the UK Debt Management Office (DMO), on behalf of Her Majesty's Treasury.
http://www.debtbombshell.com/bond-market.htm