Mythbuster: We Can't Afford The Interest On The National Debt

"the average interest rate paid on UK national debt has been falling steadily.

So too has the cost of the interest on that debt be(e)n falling as a part of GDP and of total government spending. Just 4p in every pound the government now spends goes on interest payments. And two-thirds of that goes to people in the UK.

In that case the idea that interest payments on the national debt will be a massive burden makes no sense at all."

UK Government Debt - An Explanation

"Government debt is not then a matter of concern right now, unless the fact that big savers have confidence in the government to be the best person to look after their money is an indication of a lack of confidence in it. And I promise you, that has never been the case to date."