UK National Debt
Need for World Financial Transparency Day
Ab0ut a week ago , courtesy of a TV programme, I saw that our National Debt stood at £777 Billion and that the interest on it was more than our Defence Budget.
From on line reference sources, in February 2010 at £848.5 Billion it was 59.9% of our GDP. Information was presented that showed there were other large economies with worse figures than ours. However it then went on to explain that as some data was not included in our figures comparisons had to treated with caution.
It would be very interesting to be given accurate information as to whom our debt was owed, the interest rate, or rates used and how much interest was paid to the people/organisations etc who had loaned us the money. It would be even more interesting if similar data was available from all of the large economies. How about a World Financial Transparency Day? Better still Era.
Frederick W Gilling Saturday 01 May 2010
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