Wednesday, January 26, 2011
For the record
"Welcome, RBS and Lloyds, to the PSF figures. Your stablemates include other bailed-out British banks like Northern Rock and Bradford & Bingley. According to the ONS, Lloyds and RBS will add some Â£1,300bn to the level of public sector net debt, which is rather more than the Â£130bn the Croc and B&B added. So a big welcome, also, for the new British debt-to-GDP figures: - at the end of December 2010: â€¢ net debt of Â£2,322.7 billion including interventions, equivalent to 154.9 per cent of gross domestic product â€¢ net debt of Â£889.1 billion excluding interventions, equivalent to 59.3 per cent of gross domestic product"