Marshalswick South Focus Team

Councillors, Rod Perks and Allan Witherick working with Andrew Duff MEP and Melvyn Teare for you Learn more

Why are we trying to reduce the amount of debt the Government is running up?

by awitherick on 14 March, 2012

Extract from ‘sales’ e-mail from Buckle Green & Ptnrs.

To put the UK’s budgeting into context, we have translated this year’s figures [2011] into household terms by shifting the decimal point 7 places to the left:

  • £58,900 Income
  • £71,000 Spending
  • £12,100 New borrowing on the credit cards
  • £90,920 Borrowing already on the credit cards
  • £2,200   Planned spending cuts

If you ran your household on this basis, what would your finances look like? We think it puts the level of debt and planned cuts into perspective.

And unlike the mortgage you can’t buy life assurance so that the next generation aren’t made homeless…

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