Figures in the Treasury’s pre-Budget report documents reveal that in 2014/15, the national debt will be £1,473 billion. That is 77.7 per cent of gross domestic product
What am I missing?
Nominal GDP is about £1.4 trillion isn\’t it? So that debt is more like 100% or so of GDP….unless we\’re expecting a great deal of growth or inflation between now and then?