Britain (like every other significant national economy) is shackled to debt.
The UK public sector net debt has risen to £1.022 Trillion, that is the equivalent to 66% of GDP and the highest since records began.
Some are questioning how this can happen, given that the politicians have launched an austerity programme designed to cut back on on debt.
The answer is simple.
The "planned" cuts and austerity drive will never cut the actual level of debt, at best the cuts will reduce the rate of increase of debt.
We are destined to be shackled to debt for the rest of our lives!
