UK Debt Deficit Budget Explained in Real Money
How does the UK Budget and Deficit Compare to an Household's Income and Spending? The numbers for the UK economy and budget deficit are huge but do we really understand what a billion pounds is? How does a £10 billion compare to anything else? Maybe equating the numbers to a household budget would make them more understandable. The 2012 UK Government Budget UK Income (Taxes) Total: £589 billion UK Spending Total : £710 billion (2011 = £691bn, 2010=£669bn) Outstanding Debt: £1040 billion Key number Spending minus income is £99 billion - so we are spending £99 billion more than we get in Lets try that with more manageable numbers that are more comparable to a family income: If the UK Government was a family their income and spending would be: Income £30,000 Spending £36,000 So this year the government "family" would be running up an overdraft or credi...