Government debt | Topics | tutor2u Economics

Government debt is also known as public debt, national debt or sovereign debt and is money (or credit) owed by a central government to creditors within the country (domestic, or internal debt) as well as to international creditors.

In 2015 the UK public sector received £671 billion, spent £753 billion, borrowed £82 billion, had a current budget deficit of £46 billion and at the end of 2015 a debt of just over £1.6 trillion (or 84% of GDP)

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