This summer will go down in history as the first time ever that Britain’s national debt topped £3trillion. At the start of the century the national debt was a little over £330billion. Official forecasts suggest the national debt will hit £3.5trillion by the start of the next decade, taking annual debt service charges to around £135billion. America, whose $40trillion national debt passeth all human understanding, can get away with lower debt interest because it borrows in dollars, the global currency. In short, our national debt sits on a powder keg – which the UK Government could ignite with one false move.