Posted by: aboutalbion | September 30, 2012

National debt (continued)

This is a postscript to my post of two days ago.

It turns out that the approximate figure for the national debt [around £1 trillion] may be a significant underestimate.  An official body, the Office for National Statistics, stated in 2010 that the true figure may be above £4 trillion if state and public sector pension liabilities are included.

I consider that the case for a national unity government lasting at least 25 years whose primary task is to significantly lower the national debt year-on-year is strengthened.

The leader of the Labour Party, arriving for the start of his party conference today, has made a comment to the effect that ‘the UK faces a genuine economic emergency’.  Somehow, the use of the word ‘economic’ does seem the best choice to me.  As I wrote on Friday, the national debt is a moral issue for me.

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