Wednesday, February 13, 2008

National debt costs as much as Armed Forces

By Toby Helm, Public Policy Editor
Last Updated: 7:27am GMT 13/02/2008

Interest payments on the national debt are costing British taxpayers almost as much as the entire defence budget, according to Treasury figures.
The statistics illustrate the effect of the Government's high public spending and borrowing policies - and will further undermine its reputation for financial prudence.
The amount of taxpayers' money being spent on debt interest stands at more than £31 billion a year. Defence expenditure is £32 billion.

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