Britain notched up another grim economic landmark today when official figures showed the public debt mountain is now as big as the nation’s entire GDP for the first time since 1961.
Latest figures from the Office for National Statistics (ONS) today revealed that public sector net debt stood as precisely 100% of annual economic output, a level reached when the Harold Macmillan was Prime Minister but borrowing levels were coming down after the Second World War spending splurge on defeating the Nazis.
