Consequences of high UK private debt?

1echidna

UK public debt may be relatively low but levels of private debt (mortgages mainly) are very high. What does this mean for UK plc? Does it mean that potentially high toxic assets are being held by the banks and ultimately could be passed to the gov't? Is this another factor which could scupper hopes of quick recovery in the UK?

purch

UK public debt may be relatively low

I'm not sure many would describe it so....

1echidna

purch wrote: »

I'm not sure many would describe it so....

According to some commentators only Canada's is lower relative to GDP amongst the major industrial nations. Is this not a fact?

purch

According to this https://www.cia.gov/library/publications/the-world-factbook/rankorder/2186rank.html Canada's is 64% of GDP, whilst the UK is 43%.

I think that there are many ways of calculating Public Debt, and Broonie has found a few clever ways of moving it off the books.

ed123_2

...I think they will inflate their way out of it as per....................