So, he asks rhetorically:
How many things can you get wrong in a sentence?
In the comments he gets his answer:
A lot, it seems.
“From 1919 until 1970 peacetime debt was higher than now (and the above data fails to take QE into account). The claim that there is unprecedented UK peacetime debt is wrong.” (From Ritchie himself)
Apart from simply ignoring World War 2, you do realise wartime debt doesn’t suddenly disappear when the war stops, don’t you? During the two wars defence spending hit over 50% of GDP alone, pushing total government spending over 100% of GDP. In rough terms each war added about 125% to the debt/GDP number.
Under Labour, pre-crisis the UK had about 40% debt/GDP. We are now around the 90% mark. So it’s the biggest peacetime increase in the debt/GDP ratio, and the biggest ever peacetime budget deficit.
Ouch. Guess Ritchie won’t need to walk into a door to find out what it feels like now.