liaente
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How and why does debt increase?
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JSA2020
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What type of debt are you referring to? Personal? Or more macro such as government?
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liaente
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(Original post by JSA2020)
What type of debt are you referring to? Personal? Or more macro such as government?
More macro please (government)
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JSA2020
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Ok I’ve done economics GCSE and A-level so that’s all I know. National debt or the current account surplus or deficit is government expenditure minus government income.
So In essence debt can increase if the government needs to spend more (COVID-19) good application at the moment e.g. furlough scheme.
Government income could decrease or Increase main source of that is taxation and all the different types of taxation.
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Cheesybread
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(Original post by liaente)
More macro please (government)
When Government spending is greater than government revenue (taxes). This leads to debt, and is financed most often in this country through bonds, also known as Gilt bonds as they are done by the government
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