💥 £2.9 trillion. That’s how much debt the UK government is now in and most people have no idea who we actually owe that money to.
In this video, I break down the UK’s national debt crisis, explain how it got this bad, who holds the debt, and what it means for your money.
As a Chartered Accountant, I’ll guide you through the full story, from borrowing, bonds, and pensions to interest payments, inflation risks, and whether the government can actually pay it back.
🔎 Timestamps:
00:00 – UK government debt overview
00:30 – Who holds UK government debt?
00:58 – Debt held by UK and foreign investors
01:27 – History and causes of UK debt rise
02:02 – Impact of crises on UK borrowing
02:34 – Why governments borrow, not print money
03:04 – Government borrowing stimulates economy
03:32 – Debt rollover and rising interest costs
04:03 – 2022 mini budget crisis explained
04:37 – Risks if investors lose confidence
05:07 – Three ways to control government debt
05:39 – Debt as a tool with risks and tradeoffs
Credit to : MattGDoesFinance | Accountant