"We go on about the mass of off-balance sheet debts faced by the UK government (eg pensions, healthcare, PFI etc) but this is not a problem peculiar to the UK. However, it is an issue that all democracies should be discussing. In his manifesto launch yesterday, David Cameron talked about the most radical overhaul in welfare since the system was launched. That is precisely what is needed. The problem, as I wrote in the paper today, is that neither the Tories nor any of the other parties has provided much detail on how they would go about doing it."