Taxpayers’ Alliance Launch Debt Clock as it Reaches Over £2.5 Trillion
The Taxpayers’ Alliance is piling the pressure on Labour with the re-launch of the “debt clock,” now showcasing the UK’s ballooning national debt in real time as it soars past £2.5 trillion. The numbers are grim: debt is climbing by £381 million every day, and co-conspirators can see the figure increasing £4,410 every second on the site. The NHS could be fully funded for 14 years with the amount we owe…
John O’Connell, chief executive of the Taxpayers’ Alliance tells Guido of the worrying signs of the usual Labour spending strategy:
“Despite reassuring rhetoric, all signs are that Labour are going to continue to be a high spending government throwing money at every problem under the sun. Interest rates may have been low in the past but they have risen now and UK debt is consistently rising at an astronomical rate with taxpayers ultimately going to foot the bill.”
Interest payments on this colossal debt are draining the taxpayer of an eye-watering £102.2 billion, making it the government’s fifth largest expense last year alone. While Rachel Reeves is quick to point fingers at the so-called Tory black hole, she’s been conveniently quiet on this burden that lands on the backs of Britons…
