Britain's national debt to reach £1.4 trillion under 2009 Budget

Source The Telegraph :
Britain's national debt will reach £1.4 trillion - equivalent to almost 80 per cent of the country's economy - after Alistair Darling announced plans to borrow another £700 billion over the next five years.


The unprecedented borrowing programme sparked warnings that a generation of British workers face higher taxes to pay off the debt, and raised doubts about international investors' willingness to go on lending to the UK.

The final figures could be even higher, since Mr Darling based his borrowing plans on an assumption that the UK economy will start to grow again later this year and rebound sharply by 2011.