Thursday, December 28, 2006
True Scale of Britains Hidden Debt
Is this another nail in the house price coffin. A recent study claims Britain’s national debt is three times higher than official government reports. If this is correct, Britain could be the most indebted nation in Europe. Yet, a UK Treasury spokesman claims the calculations are “spurious” because the government does not legally have to account for public sector pensions or liabilities of other publicly owned entities. Has the UK government been covering up its true spending or not?