Wednesday, December 9, 2009


There's an interesting little post on the Adam Smith Institute blog that points out that government borrowing effectively began when we needed money to finance the Napoleonic war and has continued ever since.

That's not the interesting bit though. The interesting bit is that the cumulative borrowing (total borrowing) for what was approximately 200 years up to the year 2000 was roughly £300 billion pounds (although I don't know if this is adjusted value). Now the PBR has just revealed that in the next 20 months we will be borrowing as a country £300 billion pounds, so basically as much money as we have borrowed in total in the last 200 years!

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