Tuesday, 20 October 2009

True UK public debt

The Centre for Policy Studies, usually referred to as a "right-wing think-tank" has done some sums on the UK government's debt - adding back in all the things the government likes to leave out, such as the pension liabilities, Network Rail's debt, the Private Finance Initiative (PFI) debt, etc.

The debt clock beside this post says (as I write this) the debt is £836 billion...

The CPS says...

So the real debt is 2.2 trillion pounds. Yikes! And note they based their figures on a headline debt of £805 billion, because they wrote the report a few days ago.

Also they missed out a big one - nuclear decommissioning. Add £73 billion for that.

On the plus side, we might, just might, be able to claw back some of the banking bail out money by selling the state-owned banks as going concerns at some point in the fuure.

The report is here.

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