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Does that mean the UK doesn’t have income, outgoings and debts?



It's much too reductive a framing, IMO. Public sector spending is not, majorly, an "outgoing" of "the UK" in any reasonably comparable way to an individual's spend - rather, public sector money generally funds services within the UK which employ individuals who a) pay income taxes directly b) spend their income in other parts of the economy, where VAT/corporation tax/etc feed back to HMRC, and companies profit and grow.

It's really nothing like an "I've spent £5 on a beer and now that fiver is gone forever" outgoing, in scale or effect.




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