Friday, January 15, 2010

UK debt


Apologies for continuing with the sovereign debt theme but McKinsey has written a paper entitled, "Debt and Deleveraging: The Global Credit Bubble and its Economic Consequences" in which it estimates that the UK has the highest leverage in the Western world. It reckons that the gross level of British private and public debt is 4.5x larger than the country's GDP!

5 Comments:

Blogger Angus said...

Goodness. Doesn't it make one feel proud to know that we Brits can make the Greeks look prudent.

1:21 pm  
Anonymous Anonymous said...

with gordon brown at the helm surely we are in good hands.. no spin .. spend baby spend!! britannia rules the waves

3:02 am  
Blogger kinglear said...

Yes and that's only the pets...

6:56 pm  
Blogger Winchester whisperer said...

Hi Angus - at least our net debt levels are more respectable

Yes Anon - hope you're enjoying the sales

Does GB own a pet, KL?

10:32 am  
Blogger info said...

Hm well at the risk of being labelled as sarcastic, I would say Labour's tied estate.....

8:41 am  

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