What you could buy with the interest on Labour’s debt:
If Britain was not going to spend £63.7 billion a year on debt interest, we could:
Abolish fuel duty, inheritance tax, and stamp duty or
Abolish council tax or
Pay for 1.5 million extra police officers or
Pay for 1.6 million extra teachers or
Pay for 1.9 million extra nurses or
Cut the basic rate of income tax by over 13p.
Britain will spend more next year on paying the interest on Labour’s debt than on educating our schoolchildren. The Dedicated Schools Grant in 2010-11 will be £31.9 billion. Debt interest payments will be £42.9 billion in 2010-11, and are estimated to rise to £63.7 billion by 2013-4.
And so on…