What began as a simple blog post has turned into a major project, in which all the UK’s major public sector economic reporting agencies have now played a part. There will, I promise, be results in due course: I am now working on a paper, although don’t expect brevity or a light read, as those who have commented to date have complained. I do, however, think that the work, and the wait, will be worthwhile. The one thing I think I can safely predict is that the national debt is definitely not what it claims to be.
What’s the over and under on him getting this wrong? For example, by not including public sector pensions liabilities? Or N Sea oil rigs liabilities (government has had the tax revenue already but they have to give it back when the companies claim the expense of cleaning up old rigs) and so on and on?