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UK national debt believed to have crossed £3 trillion mark - NATIONAL NEWS
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The Stratford Observer
Britain’s public debt is thought to have pushed past £3 trillion for the first time, according to new estimates from the TaxPayers’ Alliance, based on the recent pace of government borrowing.
Where the figure comes fromOfficial statistics from the Office for National Statistics put net public debt at £2.99 trillion at the close of June.
At current levels, the debt load works out at over £100,000 for every household in the country and is close to 95% of national income.
Britain took more than three centuries to accumulate its first £1 trillion of debt, a mark passed in 2010.
Such borrowing would remain within the technical rules but would still add to overall debt and interest costs.