Official figures are only the tip of a terrifying iceberg of debt
"Take a look at this depiction of an iceberg. It provides a frightening illustration of just how much trouble we are in, and explains why the markets are in turmoil and the pound is in freefall as investors around the world lose confidence in Britain."
"There are a number of factors that Mr Brown conveniently ignores. For a start, public debt should include the Private Finance Initiative, Network Rail, the banking bail-out, the commitments that we took on when Bradford & Bingley was nationalised and future promises on public sector pensions (on all of which, more below).This comes to £2,366 billion. That's 157per cent of our GDP, a much less reassuring figure." (Daily Mail)
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