A brief overview on the history of British Debt

It’s the inflation; the price of every commodity is going high which is creating a burden on you. Either directly or indirectly debt and GDP are interrelated with each other. As one rises the other gets affected too.

For instance, in case of any war or any natural calamities, the GDP of a nation is undoubtedly getting affected which also affects the financial condition of the people and that makes it difficult for them to pay off their debt.

The government is looking after the economic slowdown, as it did in the period of recession. They introduced new plans to take over the situations. Same things happen during wars and calamities and the government puts a new course of action to deal with the situation.

Debts are not paid during such emergencies and which is also a cause of economic slowdown.
When we talk about the economy, the banking system plays a vital role in it. Different perspectives and ideas have been put forward that view and outlook on a relation between the debt and the country’s economy.

By comparing the situations of 1830 with that of today, we can establish that after decades of somehow financial stability, the UK is again going to experience a skyrocketing debt crisis.

In 1997, the total Public Sector Debt in UK was £352 billion which get doubled in a twelve-year time. And it’s expected that it will double again by the year 2014.

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