I FOUND Pete Winstanley’s letter (HAS, Nov 25) very interesting, and of course he is spot on with his analysis of the UK’s debt.

The current Tory government will not tell you, but the country’s finances are in a perilous state.

Mr Winstanley rightly says that Britain’s public debt currently stands at £1.8 trillion, or 83 per cent of GDP (Gross Domestic Product).

When Tony Blair came into power in 1997 the UK’s debt left by John Major’s Tory government was 40 per cent of GDP.

In the first five years of Tony Blair’s reign that debt fell to 30 per cent of GDP.

When the worldwide financial crash occurred and Gordon Brown, the Chancellor had to bail the banks out because they had lost all their money, it quite naturally rose again to around 60 per cent of GDP in 2010.

In came David Cameron and George Osborne, upper class chancers, who thought with their austerity programme that they could wipe that debt off in four years.

They and their successors have done nothing of the sort because the UK’s debt as explained by Mr Winstanley is now 83 per cent of GDP.

The Tories might say that public borrowing is down, it may be, but that does not stop the debt increasing and currently the UK’s debt is rising close to £5,170 per second.

It’s frightening.

John Phelan, Howden-le-Wear