UK interest payments could rise to £70bn - Cameron

In a speech at the Open University in Milton Keynes, the Prime Minister said interest payments on the country's "staggering" debt will rise to £70bn a year in five years if cuts are not immediately put in place. The UK currently pays £42bn a year in interest on the deficit. "This is the sober reality that we have to set out for the country today," he said. "Unless we act now, interest payments in five years time could end up being higher than the sums we spend on our schools, on climate change and on transport charges combined." He said the legacy left by the last Government, inclu...