Everything you need to know about the public finances in two charts
Andreas has an superb post up over at Common Endeavour.
He slays the Tory myth that ‘Labour always break the public finances and the Tories have to fix them’ with one simple chart.
He also provides a link to a site I wasn’t aware of, UK Public Spending – it has loads of back data on UK public spending and is well worth a look.
You can use it to do all sorts of interesting charts. Like the one below.
What matters is not the stock of debt (whether it’s 100% of GDP or 1,000% of GDP) but what it actually costs. As the chart clearly shows we are spending less now on interest payments then we were at anytime between 1940 and 1960.