The ASC Blog
£1 Trillion Debt - Where has the money gone?
So we all know now that the United Kingdom has a national debt of £1 trillion – whatever that means because I am sure you will agree with me that this really is “talking telephone numbers”.
OK. I can live with the debt and I can try to understand the figure. What I cannot figure out though is where the money went. Most of our clients borrow money for a specific purpose so if a client borrows £1 million to develop a hotel he or she will know where the money has gone once they are starting to re-pay the mortgage. Do we know what happened to our £1 trillion debt?
Where has the money gone? If we can see where the money has gone at least we can start to understand whether there was a benefit. I have a suspicion that a more detailed analysis will show that a lot of this debt has been used to fund expenditure and not to fund investment. That is really a political question which is outside my remit. I just want to contribute with my question to help us understand and perhaps to help avoid similar problems in the future.
We focus on arranging finance for your business...
so you can focus on running your business
We work in the way which works best for you