UK Borrowing Surpasses Most Other Countries
National savings
Yet, a lot of the of the money borrowed is going into the housing market that is currently booming in the UK, therefore potentially creating valuable assets for citizens in the future. The same is true for the state, with some economists claiming investment in the future to be more important than a positive net lending score, according to reporting by the Financial Times.
The opposite of this attitude can be observed in OECD countries like Germany, where the government is among those pursuing a radically different borrowing strategy aimed at reducing debt. The country with the lowest borrowing rate in the OECD was Ireland.
Not included in the data by the OECD are overseas investments by Britons as well as foreigners’ financial business in the UK. Here, another troublesome statistic emerges. While the UK had been running a net profit for overseas lending and borrowing in the past, the situation has reversed since the financial crisis.
Citation (FAQ)
Buchholz, K. (April 24, 2019). UK Borrowing Surpasses Most Other Countries [Digital image]. Retrieved May 22, 2024, from https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/
Buchholz, Katharina. "UK Borrowing Surpasses Most Other Countries." Digital image. April 24, 2019. Accessed May 22, 2024. https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/
Buchholz, K. (2019). UK Borrowing Surpasses Most Other Countries. Statista. Statista Inc.. Accessed: May 22, 2024. https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/
Buchholz, Katharina. "Uk Borrowing Surpasses Most Other Countries." Statista, Statista Inc., 24 Apr 2019, https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/
Katharina Buchholz, UK Borrowing Surpasses Most Other Countries (Statista Inc.) (2019), https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/ (last visited May 22, 2024)
UK Borrowing Surpasses Most Other Countries [Digital image], Buchholz, K, April 24, 2019. [Online]. Available: https://www.statista.com/chart/17783/net-borrowing-and-lending-oecd/