Posted by: secretperson | October 21, 2008

Government Debt 1.6 times GDP!

Now we all know, despite Gordon Brown’s many assertions, that government borrowing is massive. We know he doesn’t include Northern Rock, or PFI, or pensions liabilities. But I didn’t realise until today quite how massive.

A report from the Centre for Policy Studies reveals the true debt could be as much as £2,354 billion, or 161% of GDP!

Makes one of those Northern Rock 125% mortgages look like a thrifty bargain!

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Responses

  1. Hello – I think we in the U.S.A. are the highest ranking population in debt! We’re in big trouble with our economy, yet, now that it’s a global economy, we’re all in a big rut.


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