Brits deep in debt at HK$711,483 per household

Business | 13 Mar 2018 10:00 pm

Britain's debt remains too high, equal to about £65,000 (HK$711,483) per household, the Office for Budget Responsibility said today.

This makes the economy vulnerable to future shocks. It also imposes a significant burden on future generations, it cautioned.

The cost of debt interest payments is around £50 billion each year – more than the amount spent on the police and armed forces combined.

The government has a balanced approach to get debt falling while funding our vital public services, keeping taxes low, and investing in Britain’s future, it said in a statement today.-The Standard

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