Last Friday, The Telegraph reported on the all-inclusive extent of the nation's debt, including State and public sector pension liabilities. I have waited a few days in case anyone contradicted the figure presented, and provided evidence to back up such a counter-claim. It hasn't happened.
The debt totals up at a truly staggering £4·8 trillion. Now, these are international trillions or millions of millions of Pounds. In a global market as we are nowadays, I think we must finally accept that the old British "milliard" is now passé and billions are thousands of millions and trillions are a thousand times that. This figure is therefore, in full, £4,800,000,000,000(!)
Anyway, a useful way of looking at this enormous figure is that it represents a debt of some £78,000 for every man, woman and child living in this nation of ours today. This is far worse than the £23,000 of debt that every new-born baby comes into the world bearing as an imposed burden, as was covered in a Conservative video a while back. It is more than three times worse than that!
All of this has been a result of the previous Labour government's spend-and-borrow mentality, and once the Coalition Government's policies start to gain real traction, this will be slowly brought down. In the meantime it is a good reminder of the sheer extent of the harm that Labour did to every single one of us, and to the nation as a whole.
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