Reply to post: Re: It doesn't matter...until it does

NEVER MIND the B*LLOCKS Osbo peddles, deficits don't really matter

David L Webb

Re: It doesn't matter...until it does

The interest may be small as a proportion of GDP, but it's still more than we spend per year on Defence or Welfare or Education.

But apart from the period 2000-2010 and one isolated year in 1992 it is the lowest level of interest/GDP we have had to pay since the first world war.

It has averaged around 4% of GDP since the second world war rather than the current level of just under 3% and was even higher between the wars peaking at 9.60% in 1932.

And this isn't about to change since the interest is fixed with a long maturity profile.

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