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Britain’s debt confusion

Know your debt from your deficit

By Philip Lund  

Protestors attend a "Rally against Debt" in London. Britain's national debt continues to rise—(photo: The TaxPayers' Alliance)

The government debt and deficit have figured prominently in discussions of the UK economy over the last four years. This is in marked contrast to debate before then, when the focus was on economic growth, inflation, employment and unemployment.

The change of emphasis reflects both the large increase in the previous government’s deficits in its last two years of office and its relatively successful record in terms…

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