Time to take action on our national debt

Sir, - I have read that the collective financial spend by the UK’s citizens over Christmas was circa £7.5 billion and that much of it is on credit, which will not be cleared till the summer.

However, even if everyone stopped spending at Christmas and this sizeable sum were applied to the reduction of our

£1.6 trillion national debt, it would take 213 years to match it.

I write ‘match it’ because, despite this sacrifice, it would not wipe it out.

Far from it, because the interest on our debt of £50 billion per annum over 213 years would amount to another £10.65 trillion.

Mustering all its financial acumen, the Westminster Government has a solution: it is going to borrow more. How abominably clever!

Perhaps the national debt will, in future, be measured in light years.

Even more worrying is the huge quantity of weapons of mass destruction currently stored at Faslane, a few miles from our largest centre of population.

The Tories, with many supporters in the Labour Party including Jeremy Corbyn, are apparently determined to renew the package.

A major step toward diminishing the national debt would be to close at least some of the loopholes which enable the mega rich to pay little or no tax.

A further step would be to cancel the renewal of Trident, which would also be a step toward sanity.

Too much to hope for in 2018? I fear so on both counts.

Joseph G Miller. 44 Gardeners Street, Dunfermline.

Festive spending is high – but not enough to put a dent in the national debt.