FAO oh arr - for your information

re:
User Posted Link

you're getting confused between borrowing - ie how much more you spend than you receive in a particular year - and debt, ie how much you owe in total.

it's your total debt that matters for the interest payments you have to make, not borrowing.

in 1997 public sector debt was 43% of GDP.
At the start of 2005 it was 34.5%.

Since you raised it.

Posted By: Tricky Hawes, May 6, 13:50:49