Britons in £2 trillion Debt

tonytsdiver

The United Kingdom is about £2 trillion in debt - which equates to £33,000 for every man, woman and child in the country.

Removing the 40% of the population who don't/can't work, are children or retired means every working person owes about £47,600. If you then remove from the equation the 60% of that figure who are ordinary working people struggling to make ends meet, the remaining 16.8 million people each owe £119,000.

By a strange coincidence, the figure of £2 trillion is also the amount that has been given in City bonuses in the last 10 years. :mad:

ad44downey

I thought the £1.3 trillion worth of liabilities was bad but it gets worse by the minute.

epz_2

who do we owe is the more interesting question, its like the ode saying that if you owe the bank £20,000 then you have a problem, if you owe them £2,000,000,000,000 then ...

The suspicion I am getting is all this money that was magically created by every countries banks has been lent to every other country and a lot of it could cancel itself out once inflation kicks off.

Rochdale_Pioneers

Why stop at £2tn when the number is fictional - the OP should have said £3tn.

As I understand it the official figure is now £1.3tn on the methodology that UK banks under the control of the government have no assets and all money loaned by UK banks will default. Yes, and perhaps the moon is made of cheese after all.

zappahey

tonytsdiver wrote: »

the 60% of that figure who are ordinary working people struggling to make ends meet

Did you just make that up or do you have evidence to support it?

Pssst

No no ,its even worse...! someone owes my £119,000 because i dont owe anything..!!

Generali

It depends what you want to include.

Unfunded Civil Service pensions. Not included in the official Government debt figures. Cash liability? Approx £1,000,000,000,000
PFI. Not included in the official Government debt figures. Total liability? Aprrox £128,000,000,000. Cash liability? Approx £30,000,000,000
Nationalised bank liabilities? Included in Government debt. Ok, perhaps some of the assets should be offset against this. How much though? What value would you ascribe to mortgages in arrears or credit card debt with missed payments?
Future state pension commitments. Not included. Cash liability? £46,000,000,000
Future healthcare commitments. Not included. Cash liability? I'm not aware of any credible calculation.

If we're to have 'transparency' by including bank assets in the mix, then we should also include genuine future liabilities such as the NHS for older people, state pension, Civil Service pension and PFI.

ad9898_3

As Generali said, a lot of this is unknown, however what is absolutely certain is the tax payers of this country will remember the name Gordon Brown for the next 40 years, and not in a favourable way either.

purch

Why stop at £2tn when the number is fictional - the OP should have said £3tn.

Keeping it in round figures will help.

Makes it easier to work out how much we all owe when the bailiffs come knocking !!!!

ad9898_3

Pssst wrote: »

No no ,its even worse...! someone owes my £119,000 because i dont owe anything..!!

Me neither, nor my mum, nor my sister, someone is in deep sh*t somewhere.:D

Generali

ad9898 wrote: »

Me neither, nor my mum, nor my sister, someone is in deep sh*t somewhere.:D

That reminds of of the old Tommy Cooper(?) joke. Goes along the lines of:

They reckon one in 5 people is Chinese. Well there's five in my family, there's me, my mum and Dad, my brother Chang and my sister Katie.

Dad says it's my brother but I think it's Mum.