The government will have to find a way to pay off its £1.6 billion overdraft debt on time, and in the long term, the £50 billion of overdrafts it owes on its £2.5 billion of loans are going to have to be paid off sooner or later. 

It’s a story that has been playing out for years in the UK, and the latest data from the UK National Debt and Financing Management Agency shows that over the last three years, the debt servicing on the total UK population has been going up. 

A major reason for the increase is that the government has been paying off the debt by issuing more debt. 

The latest data shows that the average debt servicing cost for UK households is now £1,638 per person, and this is growing at an average annual rate of 3.5%. 

This is an increase of more than 30 per cent on the average for all households in the EU, and more than doubling the UK debt servicing costs of the UK as a whole. 

However, this is still just a third of the cost of servicing debt that households face in other EU countries. 

In terms of average cost per person of debt servicing, Portugal and Spain are the highest at £1 and £1 per person respectively, with Austria and Germany in the middle of the pack. 

But when it comes to the cost per UK household, the UK is still only third behind Portugal and Ireland. 

France has the third highest average debt of £1 in the world at £632, but it is the only EU country that has a debt servicing rate below 1%. 

The UK is not alone in this. 

Germany, Spain, France, Portugal, Italy, the Netherlands and Austria all have debt servicing rates below 1% per person. 

That’s because these countries have been cutting back on the cost to issue debt.

The EU’s debt servicing reforms have been hugely successful, with debts being issued at a record low interest rate, but there is still plenty of room for further reductions. 

These are the countries that have seen the greatest debt servicing growth since the debt crisis. 

There are a number of reasons for this, but one of the biggest is the rise in interest rates that the European Central Bank has been pushing through. 

When interest rates fall, so do the cost payments on debts, meaning that the overall cost of debt service has to rise to meet those interest payments. 

While the average cost of UK households in 2017/18 was £1 on average, this dropped to £739 on average in 2019/20, and £851 on average this year. 

This means that the UK household debt servicing bill is growing faster than the average household in all of Europe. 

And if interest rates do not change soon, this could cause the UK to miss out on an additional £1 billion of interest payments on its debt.

This is a big problem for the government, as it will need to find ways to pay back the money that has already been owed. 

If interest rates rise, the government will not have enough money to cover its debt payments in the short term, meaning the government may need to borrow more money to make up the difference. 

According to the latest figures, the Bank of England is forecasting that the Bank’s lending rate is at its lowest level since it started keeping records in 1873. 

Interest rates in the eurozone have been near zero since mid-2017, and are expected to continue to stay at that level for the foreseeable future. 

Debt servicing in the Eurozone has also increased at a rapid rate over the past year.

According to the BIS, this means that over this time period, the average interest rate paid on the debt has risen from 0.02 per cent to 0.26 per cent. 

Meanwhile, the interest rate on outstanding debt in the European Union has also risen rapidly, from 1.5 per cent in 2018 to 2.5% in 2019. 

Since the beginning of 2020, interest rates on UK mortgages have risen by more than 100 basis points. 

What is the government doing about this? 

The government has recently announced it is introducing a debt repayment plan that will be phased in over a period of three years. 

Under this plan, the Government will make a payment to households on their debt, which will be repaid over the period of the plan. 

For households that have made a debt payment on the loan, the plan will allow them to withdraw their interest and use it to pay for other debt payments.

What are the problems with this plan? 

Firstly, the repayment plan does not have a limit on how much money the government can borrow. 

At the moment, the only limit on the amount that the Government can borrow is the amount of money it can spend. 

So the plan is not designed to reduce the total amount of debt that the country is currently holding. 

Secondly, the idea of having to repay debt