Britain's debts 'swell to £5tn'

The Daily Star reports on the IEA's evaluation of true government debt

Experts called on David Cameron to admit Britain is almost £5trillion in debt yesterday

The PM, 43, was pictured proudly gazing at pregnant wife Samantha’s baby bump as they holidayed in Cornwall. But trouble was brewing back home in Downing Street as an economic think tank said the coalition has misled the country on the scale of the national debt.

The Institute of Economic Affairs said it had worked out the real total was more like £4.8trillion, six times more than the Government’s official figure.

Director Mark Littlewood said: “The latest official national debt figure is seriously misleading because of pension liabilities.

“The grave reality is that our real national debt stands at 333 per cent of Gross Domestic Product.”

Read the article at the Daily Star website.

 

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