Government debt has doubled in a few years to more than £1 trillion. David Smith considers how worried we should be.
Somebody told me a story a few years ago of a football chairman whose manager wanted to spend £1m on a new player (this was quite a while back). The chairman to make sure the manager knew the scale of the commitment he was taking on arranged to take £1m in £10 notes out of the bank and laid it out on the manager’s desk. On seeing what a million looked like he decided against the purchase.
I write this because Britain’s official statisticians have just announced that Britain’s public sector debt in...
