Look at the National Debt in absolute terms ie ?'s

You pay interest on the amount you owe in absolute terms i.e ?bn.

The PSBR is the annual amount of borrowing, which is around ?30bn - ?32bn this tax year and the Chancellor hopes it will fall by ?2bn next year.

Stuff the % in GDP terms because if your GDP falls due to recession you still have to pay the interest on the absolute amount owed !

Posted By: oh arr, May 6, 15:00:08