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.

And by the way you are wrong.

The interest payments for 2014 were £47.7 billion total

Total Defense spending was £44.3 Billion

Total Welfare spending was £112.4 Billion

Total Education spending was £90.2 Billion

Total Pension spending was £143.2 Billion

So the interest payments were only bigger than the spending on defence not the other areas you mentioned.

That is central + local government if we just take the central government figures then you get closer

Interest payments £47.4 Billion

Central Government Defense spending was £44.3 Billion

Central Government Welfare spending was £58.0 Billion

Central Government Education spending was £41.9 Billion

Central Government Pension spending was £143.2 Billion

But spending on Welfare is still well above the amount paid in interest payments

See

http://www.ukpublicspending.co.uk/year_spending_2014UKbn_14bc1n#ukgs302

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