It's to justify that our debt is tiny and that we can still take on a lot more debt, unlike the UK, whose situation has deteriorated since the Brexit.Right, so what's all this then?
It doesn't justify that though. You can only pay debts with income, which is tax revenue, not hypothetical asset values. France has a larger debt that the UK and collects less tax revenue, despite higher tax rates. That's a fact, deal with it. Personal debts aren't even the same thing as national debt, so it's flawed to even include them. I mean when you start talking about personal wealth, there are criminal syndicates, off-shore trust accounts. A lot it is hidden.It's to justify that our debt is tiny and that we can still take on a lot more debt, unlike the UK, whose situation has deteriorated since the Brexit.
The value of the assets is not hypothetical, it is not necessarily mobilisable in the short term, but it is in the long term, so it is a guarantee and this guarantee lowers the interest rates we are granted, which means that for the same cost we can borrow more.It doesn't justify that though. You can only pay debts with income, which is tax revenue, not hypothetical asset values. France has a larger debt that the UK and collects less tax revenue, despite higher tax rates. That's a fact, deal with it. Personal debts aren't even the same thing as national debt, so it's flawed to even include them. I mean when you start talking about personal wealth, there are criminal syndicates, off-shore trust accounts. A lot it is hidden.
Comparison of tax collection between France and the UK according to the OECDFrance has a larger debt that the UK and collects less tax revenue, despite higher tax rates.
OECD - That well known financial institute.Comparison of tax collection between France and the UK according to the OECD
It is highly hypothetical, especially when it includes private assets, which are not even accessible by the government paying the debt, which people need to live in and companies need to operate and/or pay pensions.The value of the assets is not hypothetical, it is not necessarily mobilisable in the short term, but it is in the long term, so it is a guarantee and this guarantee lowers the interest rates we are granted, which means that for the same cost we can borrow more.
Interest payments on the national debt rose to their highest level ever last year, as the UK’s public finances reel from the huge cost of the pandemic.
The government’s statistics department said the debt pile stood at £2.3tn last month, with interest payments rising to nearly £70bn, a record amount according to the Office of National Statistics (ONS).
En 2021, la charge d’intérêts de la « dette publique », c’est-à-dire la dette consolidée de l’ensemble des « administrations publiques », s’est élevée à 34,5 Md€
Translation
In 2021, the interest payments on the "public debt", i.e. the consolidated debt of all "general government", amounted to €34.5bn
Fraudulent assessment.I'm not going to argue nonsense forever, I'll just illustrate with data, the mechanism I described here:
and that BMD disputes:
Annual interest on UK debt: £70bn which is €80.73 bn.
National debt interest payments rise to record £70bn
Despite public finances improving last year, 2021 still ranked as the third highest year ever for government borrowing.news.sky.com
Annual interest on France debt: €34.5 bn.
I am trying to explain why France, which has a debt of $3329.4 bn, only pays €34.5 bn, while the UK, which has a debt of $3039.3 bn, pays €80.73 bn. But BMD does not want to listen.
The difference between the two is about our defence budget anyway, so it's worth understanding.
European Union External Debt accounted for 129.5 % of the country's Nominal GDP in 2021, compared with the ratio of 130.4 % in the previous year.
There is a problem with BMD: he demonstrates that the figures he provided are nonsense and he attributes this to French mathematics.There is a problem with the French maths here too.
EU External Debt: % of GDP, 2008 – 2024 | CEIC Data
EU External Debt accounted for 110.7 % of the country's Nominal GDP in 2023, compared with the ratio of 117.8 % in the previous year.www.ceicdata.com
European Union External Debt accounted for 129.5 % of the country's Nominal GDP in 2021, compared with the ratio of 130.4 % in the previous year.
Debt pyramid. How much debt is the EU paying on your behalf? Don't come at me with half facts, it didn't work during the Brexit referendum and it won't work now.
My figures are from the World Bank, as stated at the bottom of the graphs. You can retry the calculation with your figure of $1192.1bn (EUR1182.2bn) in French tax revenue but then the discrepancy will grow from EUR169bn to EUR781.2bn.There is a problem with BMD: he demonstrates that the figures he provided are nonsense and he attributes this to French mathematics.
Government Revenues | 210.71 | 192.91 | EUR Billion | Aug 2022 |
Government Revenues | 71185.00 | 71804.00 | GBP Million | Sep 2022 |
$6.4tr for France.
- United Kingdom External Debt accounted for 310.7 % of the country's Nominal GDP in 2021, compared with the ratio of 334.4 % in the previous year.
UK External Debt: % of GDP, 1987 – 2024 | CEIC Data
UK External Debt accounted for 281.8 % of the country's Nominal GDP in 2023, compared with the ratio of 290.7 % in the previous year.www.ceicdata.com
Look again at the numbers. Ours are monthly, yours are cumulative. Apples and oranges. E.g. Sept 2022, France is 211-192 = 29bn. UK is 71bn. You should have figured this out, otherwise you'd be collecting your whole GDP in tax if that was the monthly take for France. If you add up our monthlies and subtract expenditure, our numbers balance, yours do not. #EU BlackholeGovernment revenues:
France Government Revenues
Government Revenues in France increased to 210.10 EUR Billion in August from 186.88 EUR Billion in July of 2024. This page provides - France Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.tradingeconomics.comBy the way £71185.00 Million is 82.07702 bn €..... OnlyUnited Kingdom Total Public Sector Receipts Exc Banks
Government Revenues in the United Kingdom decreased to 89370 GBP Million in August from 100130 GBP Million in July of 2024. This page provides - United Kingdom Government Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.tradingeconomics.com
French:
Government Revenues 210.71 192.91 EUR Billion Aug 2022
UK:
Government Revenues 71185.00 71804.00 GBP Million Sep 2022
If I were to do such a calculation, I would be careful not to mix sources and forget expenses. But I don't want to, there are specialists for that.My figures are from the World Bank, as stated at the bottom of the graphs. You can retry the calculation with your figure of $1192.1bn (EUR1182.2bn) in French tax revenue but then the discrepancy will grow from EUR169bn to EUR781.2bn.