Autumn statement 2011: see how the economic predictions have changed | News | guardian.... - 0 views
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Duncan Innes on 29 Nov 11See how crap the chancellor is at predicting the economy
Interest Payments. The cost of paying interest on the government’s debt is very high. In 2008 Debt interest payments will be £31 billion a year (est 2.5% of GDP). In 2009, they will be £35 billion (similar to defence budget). Public sector debt interest payments could be be the 4th highest department after social security, health and education. Debt interest payments are rising close to £70bn given rise in national debt.
