Thanks for your interesting observations Absent
However, public debt as expressed as a percentage of Gross a Domestic Product GDP was declared at 90.3 in 2012, this, when measured against 184 countries who published the same data placed UK at position 16 of the highest levels of public debt/GDP.
Interesting to say the least.
The Centre for policy Studies stated that the actual figure was probably 103.5% GDP.
Happily the figure for 2013 is 76%, however borrowing is still rising.
The UK economy is in a fragile recovery phase, if borrowing continues at theis rate inflation will follow.
It appears that recent tax increases are purely servicing interest payments on this debt along with Quantative easing.
Much of the borrowing is destined for welfare payments and this is why the government is raising the retirement age to keep as many people in work as long as possible to minimise pension payments.
With regard to aid through trade, I recognise this as fact. What concerns me though is the Injudicious donations when we are borrowing to service our own countries welfare needs and based on the above information most have a lower debt/GDP than us. No we probably won't go bankrupt, we have been very imaginative with our finances for many years.