Tory austerity?
Tory austerity policies between 2010 and 2019 did not cut the national debt;
2010: Total net debt stood at approximately ($1.4) trillion (£1.0 trillion), which was roughly 64% of GDP.
2019: Total net debt increased to roughly £1.8 trillion, which represented around 80% to 84% of GDP.1, 2, 3, 4]
In total, approximately £800 billion was added to the national debt during the 2010–2019 austerity decade. The austerity period significantly reduced day-to-day departmental spending, but the overarching goal of reducing the total absolute debt level was never achieved. 1, 2, 3]
Now our debt level is 94% of GDP.
We are nearing the end of the rope.