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Are UK taxpayers growing immune to the ever-growing government debt?

As the UK government today confirmed it had to borrow £8 billion to balance the books in July, a month which has historically seen strong for net tax receipts, it would appear that UK taxpayers are becoming immune to the ever-growing government debt situation. Who would have thought just two years ago that we would be talking in terms of hundreds of billions of pounds of debt and UK taxpayers would appear to have no real opinion?

There is a feeling that the news over the last two years has been so dreadful and so disappointing that many people are struggling to comprehend the massive debt which is building up for the UK as a whole, UK consumers and UK businesses. We see the politicians standing at the dispatch box in the Houses of Parliament talking about billions upon billions of pounds as if it was small change and expecting the UK taxpayer, UK consumer and business leaders to take it on the chin.

It will only really hit home in the short to medium term when the next UK government, whoever that may be, will be forced to announce large-scale reductions in investment into public services across the UK. This will likely be the catalyst for many people to sit up and wonder where their tax receipts have gone and how they have been spent. However, until the moment comes it seems as though UK consumers and UK business leaders are happy to get on with their own lives and let the UK government "govern" the UK.

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