Britain’s debt mountain could be a staggering £12 trillion, far bigger than initially thought, according to analysis by campaigners.
It was reported this week that the UK’s public sector debt had topped £3 trillion for the first time as the Government borrowed billions more to pay for welfare spending and higher interest payments.
But campaign group the Taxpayers’ Alliance (TPA) has revealed this figure did not include hidden liabilities, such as unfunded state and public sector pension commitments, PFI contracts and nuclear clean-up costs, which it estimates were worth an extra £8.6 trillion.
As a result, the group said the true size of
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