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Public Sector Debt More Than Twice Previously Estimated

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http://www.telegraph.co.uk/finance/economics/7884343/Public-sector-debt-around-2-trillion.html

Public sector debt 'around £2 trillion'
The UK's public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.
By Rachel Cooper
Published: 12:01AM BST 12 Jul 2010
A study by the Institute of Chartered Accountants in England and Wales (ICAEW) and the Centre for Economics and Business Research (CEBR) has revealed that there could be
a further £1.13 trillion of liabilities above the current estimate
that puts public sector net debt at £932bn.
Researchers said their figure incorporated liabilities that are currently considered to be "off-balance sheet" or not covered in the official national debt measure, such as public private partnerships or private finance initiatives and public sector pensions.

Hww is it all going to be paid for? Taxation, higher IR, reduced public spending = HPC = even more debt.

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How does this happen? It's as if no-one has been doing the accounts properly for the nation for years....

...oh, right.

A conspiracy of silence. Labour drove home the idea that our public services were crappo and needed massive investment after 18 years of under investment (whatever the feck that means) by the evil Tories.

Unfortunately, the country seemed to buy it hook, line and sinker and when the odd voice of protest has been raised over the years, like Vince Cable's in parliament in 2003, the person voicing concerns has been painted as a rabid Tory **** or a loon.

I just wish someone with some clout had stood up years ago and said 'this is insane, we are piling up massive debts for our children to pay off in the future'.

Wonder what our kids will think when, in 50 years time, they need to build a new hospital and they are still paying for the ones we built for ourselves with their, yet to be earned, money.

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http://www.telegraph.co.uk/finance/economics/7884343/Public-sector-debt-around-2-trillion.html

Public sector debt 'around £2 trillion'
The UK's public sector debt could be £1.13 trillion higher than headline figures suggest, according to research.
By Rachel Cooper
Published: 12:01AM BST 12 Jul 2010
A study by the Institute of Chartered Accountants in England and Wales (ICAEW) and the Centre for Economics and Business Research (CEBR) has revealed that there could be
a further £1.13 trillion of liabilities above the current estimate
that puts public sector net debt at £932bn.
Researchers said their figure incorporated liabilities that are currently considered to be "off-balance sheet" or not covered in the official national debt measure, such as public private partnerships or private finance initiatives and public sector pensions.

Hww is it all going to be paid for? Taxation, higher IR, reduced public spending = HPC = even more debt.

It will be paid for by taxation, reduced public spending and very very low interest rates (the whole point of low interest rates is to make the debt easier to repay).

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Hww is it all going to be paid for? Taxation, higher IR, reduced public spending = HPC = even more debt.

"Renegotiate" the contracts.

Pay them with brand new paper if necessary, it's been done before.

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  • 149 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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