£76,000: the true government debt per household
Source: Centre of Policy StudiesPublished Tuesday, October 21, 2008 - 08:58
The real level of UK government debt is £1,854 billion – three times greater than the official figures, equivalent to 126.9% of GDP, or £75,984 for every household in the the country.
These figures include the cost of projects financed through the PFI, unfunded public sector pension liabilities, the debt incurred by Network Rail and the recent nationalisation of Bradford and Bingley. They do not include the cost of the recent bail-out of the UK banking sector. If this were included, this could add up to £500 billion to the debt figure. This would imply a total debt of £2,354 billion – the equivalent of 161.1% of GDP or over £96,475 per household.
