I have been doing some rough calculations, to see how much debt the U.K. is in, and what to do about it. I decided to use the publicly available 2017 numbers as this would be fairer than around present Covid times, but would also take into account the post Brexit vote result (admittedly not after the U.K. left). This way the number's are not too crazy, just really bad.

Total taxes collected for Autumn 2017 were £769bn. With the U.K. national debt at the time being some £1.7tn. Working within this, I tried to calculate the amount the U.K. could pay off by segregating away 10% of all tax receipt monies, leaving the country to work within 90%, and not going over budget.

YEAR IN OFFICE | DEBT + INT : 2.7% (£bn) | TAX : RATE | MONIES RAISED (£bn) | NEW DEBT TOTAL (£tn) | |

1 | 1,731 (+48) | 10 | 77 | 1,702 | |

2 | 1,702 (+46) | 10 | 77 | 1,671 | |

3 | 1,671 (+45) | 10 | 77 | 1,639 | |

4 | 1,639 (+44) | 10 | 77 | 1,606 | |

5 | 1,606 (+43) | 10 | 77 | 1,572 |

ASSUMPTIONS:

1. That the economy would not grow i.e. so tax would remain static at £769bn.

2. That the base rate of interest over five years would remain static at 2.7%

I calculated 2.7% interest rate from a Wikipedia article that stated the interest repayments were approximately £48bn, which from the total debt pile of £1,731tn was what I got. Although information on the government said that it was 2.4%, I went with the larger sum.

ref : https://en.wikipedia.org/wiki/United_Kingdom_national_debt

ref : https://www.ons.gov.uk/economy/gove...tdebtanddeficitforeurostatmaast/september2017

With this in mind, 10% of all tax should be £77bn (76.9), so based on the amount being paid off, and interest rates remaining static, with the interest itself steadily decreasing, are these number right ?

TOTAL : 5 YEARS | ORIGINAL : £1,731tn | RATE : 10% (annual) | PAID : £385bn | REAL DEBT PAID : £159 | INTEREST : £226 ! |

CURRENT : £1,572tn | TOTAL TAX : £3,845tn (5yr) |

If so, then the UK would only be paying £159bn from the real debt pile, whilst forking over £226 in interest payments.

The most amazing thing in that five year period would be that the U.K. Treasury would have let £3.8tn run through its fingers !