[nomadking]

Originally Posted by Hugh

<cough cough>

https://www.ukpublicspending.co.uk/u...ficit_analysis



The deficit as % of GDP was reducing until the gambling banks decision to blow up the World’s economies…

That is because GDP was going up, because the housing bubble was about to burst.
The average deficit for the 6 years prior to 2008, was £42bn(total of £254bn).
Debt as a % of GDP, went from 27% for 2001/02 to 34% for 2007/08.It was also 34% for 1998/99, but the total debt was £194.6bn lower.
Without the post-2010 reduction in the deficit, there wouldn't have been the money available for covid, energy costs, and cost of living.