Reducing UK’s national debt for 2014 should be priority, says CISI survey

Reducing the UK’s national debt should be Chancellor George Osborne’s priority in 2014, according to a survey carried out by the CISI (Chartered Institute for Securities and Investment).

Of 490 respondents, some 62% believe that putting the country’s finances into better shape is the number one task for the Chancellor.

Of three other options offered in the online survey, 21% feel that cutting taxes is his most important job, 12% want the chancellor to increase public spending generally while 5% favoured more money being invested by the Government in pensions and the NHS.

One contributor commented: “It is essential for the long-term health of the economy to reduce the national debt. This can only happen once the deficit has been eliminated. We are still a long way away from doing that.”

Another said: “It's time for the UK to move back to being a capitalist economy with small government, low benefits and low taxes.”

The UK's national debt stands at about £1.26 trillion according to debtbombshell.com. That they say makes it nearly £20,000 for every man, woman and child as well as being some £43,700 for every person in employment. And every household will pay £1,899 this year, just to cover the interest it goes on.

More on the scale of the UK national debt can be found on economicshelp.org HERE.