...when looking at public spending from 1997 to this year:

To put it in other words, the UK government spending spending doubled in just 12 years, incidently when Labour took power in 10 Downing street. As long as this was met by rising tax receipts, things could work out. However, they didn't, at least since 2003, when public spending rose by a whopping 40%, and when the economic situation was not that bad:

And this deficit was most likely only created because the state is trying hard to outspend private economy:

In other words - the UK government will - most likely - spend more than all of the private economy together if nothing drastic happens. The two blue bars look to me like the most optimist scenario,and will probably be topped by the reality when the government tries to buy their constituents for a last time with their own and shiploads of borrowed money.

Where this leads is completely clear - socialism in its worst form, taking on forms of a government remniscent of communist regimes of the pre-1989 period also called 'cold war'. The UK, unlike the Euro zone, could get out of debt by hyper-inflating their currency, but the effect on the world economic could potentially catastrophic.

The Brits have exactly one option left. Replace their government faster than they can enact new 'bailouts'. And make sure the new government doesn't believe in 'economic stimulus' and other hogwash, but in reduced public spending, and maybe, paying back accumulated public debt.

(All graphs by the blog UK Bubble)