It's easy to forget just how much the UK government owes. The approximate figures are:
At the moment, the government owes around £950 billion. There are around 62 million people in the UK, so this is about £15,000 per person.
Last year (2009-10), the UK government spent £671 billion, but only received £496 billion in tax. This is a shortfall of £175 billion. This year (2010-11), government spending is set at around £700 billion, so the shortfall may be similar, increasing the debt still further. Per person, the government spends about £11,000 per person, but receives about £8,000 in tax.
The interest bill on the debt this year is expected to be about £43 billion (about £700 per person).
