IRRV Alert - week ending 20th November 2015
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The debt and deficit of the UK public sector explained
The debt and deficit of the UK public sector explained
In 2014 the UK public sector received £640 billion, spent £738 billion, borrowed £98 billion, had a current budget deficit of £69 billion and at the end of 2014 a debt of just under £1.5 trillion (or 81% of GDP)1.
So just what do all these numbers mean?