National debt | Topics | tutor2u Economics

The national debt is the government's stock of outstanding debt. The national debt can be expressed in billions of pounds, or as a percentage of national income (GDP) or in terms of thousands of pounds per household – it is estimated at £55,000 per household for the UK in 2015. At the end of March 2017 government debt was 87% of national income, high by recent historical and international standards 

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