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."

The Cost Of UK Government Borrowing

"In cash terms, we have the highest government debt we have ever had. But the cost is exceptionally low, and even if we increase what is described as borrowing as a consequence of coronavirus the impact will still be very small given current, exceptionally low interest rates, which look like they will persist for a very long time.

Please do always recall, that every penny the government spends on interest becomes someone's income - and most of it in the UK. And there is good reason for that: UK national debt is just a savings mechanism. There is nothing more menacing or threatening about it to our wellbeing than the amount saved in banks and building societies."