The national debt has ballooned to £1.6tn, equivalent to 79.6% of GDP, and is forecast to keep rising for 2018. This vast sum is offset by wealth, largely in bricks and mortar, of more than £8tn.
Isn’t that cute? He’s compared what the government owes to households (including foreign ones) to the net assets of households.
It might be worthwhile to compare the government’s net asset value to its borrowings but to the populations’?
This is also pretty good:
Council tax £34bn
Any talk of reforming the only annual tax on property appears to be on the back burner despite a review of property values being 20 years overdue.
The good bit being that he’s already said:
Business rates £30bn
This tax on premises
Premises/property are pretty goo synonyms, aren’t they?
It’s also pretty easy, given the way it’s all laid out, to balance the books.
Industry, agriculture and employment £23bn
Housing and environment £31bn
Other: including culture, sport and international development £53bn
Kill off all of those an we’re peachy, no?