Lord Birt – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Birt on 2014-05-06.

To ask Her Majesty’s Government whether they intend to reduce the ratio of national debt to gross domestic product to below 40 per cent; and, if so, in which year.

Lord Deighton

As set out in Budget 2014, given the costs and risks of high levels of debt, once the supplementary debt target has been met, any future government will need to ensure that debt continues to fall as a percentage of GDP. Even in the absence of future shocks sustained action will be needed to bring down debt.