UK debt climbs

As the economy strives to maintain what has been called a growth, there remains the simple hard fact that there is an ever increasing number of people, businesses and even government bodies which require some form of financial loan or crediting.

This graph highlights the green line, the UK's constant growing level of debt as a percent of the GDP. far exceeding the US which has recently been struggling to maintain its financial status.

A similar growth of debt is seen in Spain, suggesting that the UK and its debt problems is intrinsically linked to the European Union and its financial well-being.

Japan's level of debt has been continually high, but now the UK threatens to take the ominous title of most debt ridden.

The UK is in danger of becoming the most indebted of all the major financially interested countries, the debt percent (%) compared to the GDP in the UK, when compared to the similar detail of other major countries is climbing at an astounding rate, and is only currently surpassed by Japan.

If we are indeed now in a period of growth, and assuming that people can now begin to, and then continue to pay off their debt then this assumed level of debt would not clear until well into 2020.

The reality is that people and businesses are still hard pressed, even individuals in employment which provides a good level of income it is noticed that there is more problem with outstanding debt.

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