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Debt and the G20

SIR – I was disturbed, albeit not surprised, to read that the average Briton now has to work 83 days a year just to pay off the interest accumulating on their debts (, March 25).

Once you combine this with the time we spend working to pay our taxes – which the Adam Smith Institute estimates will be around 160 days in 2009 – it could be September before we get to spend any money on ourselves!

Tom Clougherty
Executive Director, Adam Smith Institute
London SW1

Published in The Telegraph here