I don’t know what level of reality I should be operating on

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Public finances have in common with astronomy the incomprehensibility of its numbers. Can an average human being visualize £7 trillion for instance?

Quoting a confused minister talking to Malcolm Tucker: I don’t know what level of reality I should be operating on. The UK government does. It knows exactly how much money it recognises as debt. Which is significantly less than the liabilities that it currently holds:

  • Public pensions £3.3 trillion
  • Lloyds and RBS bail-out £2.6 trillion
  • Official National Debt £1.0 trillion
  • Nuclear decommisioning £0.1 trillion
  • Public Finance Initiative debt £0.1 trillion

Source: Burning our money – Lastest on National Debt

Public Finance Initiative is an euphemism for contracts for builders and infrastructure consultants.

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