Thread: Coronavirus (OLD)
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Old 19-06-2020, 10:55   #4095
Sephiroth
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Re: Coronavirus
Quote:
Originally Posted by 1andrew1 View Post
Public debt has now exceeded GDP for the first time since 1963.* However, one think tank (IFS) says it's not a significant worry as the debt's purpose was for economic recovery.

https://www.ft.com/content/57974640-...b-32f34825f13e

*For those of you interested, the Prime Ministers at the time were Sir Alec Douglas-Home (1963-1964) and Harold Macmillan (1957-1963) both Conservative.
That last paragraph of yours, whilst true, is somewhat gratuitous, I feel. Singling out the Conservatives seems to me to be an expression of dislike of Conservatives worthy of Mr. K. In 1963, we had the coldest winter on record with massive industrial and commercial shut-down. Plus we were still paying off WW2 debt.

Please see the public debt chart linked below (which I can't make to display reliably).

https://www.ukpublicspending.co.uk/s...ebt_As_Pct_GDP
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Last edited by Sephiroth; 19-06-2020 at 11:07.
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