Government debt keeps on rising…

I’ve been keeping a little spreadsheet of official UK public debt forecasts since 2010 (I know, sad life etc….). Here’s the chart that brings it all together and shows that whereas in 2010 debt was expected to peak at 70% of GDP in 2013-14 as the effects of the financial crisis worked their way through, in fact that never happened and it kept on rising.

Yesterday’s data instead shows debt is now expected to peak at a massive 90% in 2017-18. Here’s the picture – each line represents the forecast made at that particular budget or autumn statement.

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