This figure comes from a comment made on John Redwoods blog:
And is obtained by dividing the National debt by the UK Population. I haven’t checked the arithemetic. We’ll assume it is right. Again that’s not really at issue.
No-one in the UK owes anything to anyone unless they are overdue on their credit card, have a bank loan, haven’t paid their rent or whatever. There is no personal responsibility for any part of the so-called “National Debt”.
A large part of the National Debt is due to the long standing UK trade imbalance with countries like Japan and China. Everyone is probably responsible for part of that £34,281.54. If , say, they’ve ever bought a Japanese car, that alone could be £10,000 or so.
But that person would have had their car and the Japanese car company would have been paid in full. There’s no debt there. So what’s the problem? Everyone’s happy. Someday the Japanese holders of £10k worth of treasury bonds will decide to cash them in and spend the proceeds.
They may well decide to spend them with a company the car buyer works for and the car buyer will end up getting back £10k as salary. The UK ‘debt’ will be smaller, and everyone will be even happier than they are now.