Longer posts from all of us will follow this week, I’m sure, but in the meantime a link to this piece from Bill Jamieson (also covered by Massie). This is how the national debt must be communicated:

Next year, we will be paying £44.4bn in debt interest alone – never mind debt falling due for repayment.

That debt interest in 2010-11 will absorb the entire proceeds from capital gains tax, inheritance tax, stamp duty, tobacco duties, wine and spirits duties, beer and cider duties, betting and gaming duties, air passenger duty, the climate change levy, the aggregates levy and Customs and Excise levies – and still leave £1bn to find.

That is extremely frightening.

RCM