Sorry, meant national debt, not budget deficit. Govt figures have it currently at 900 billion and forecast to rise to 1 trillion by 2011.
I still don't see that as "worse than any other industrialised nation". The US national debt is a hair under 13 trillion dollars.
In relative terms, by any metric, the UK isn't that badly fucked (though, to be sure, it is badly fucked). For instance, I live in Spain, and official unemployment is over 20%. Unofficial estimates are quite a bit higher, closer to 25%.
I still don't see that as "worse than any other industrialised nation". The US national debt is a hair under 13 trillion dollars.
In relative terms, by any metric, the UK isn't that badly fucked (though, to be sure, it is badly fucked). For instance, I live in Spain, and official unemployment is over 20%. Unofficial estimates are quite a bit higher, closer to 25%.