Brown has just told the Commons that Britain's national debt stands at 37.6 percent of GDP - thus 'allowing' him to borrow, borrow, borrow and spend, spend, spend!
Brown is playing with figures. He used IMF figures, however, Britain's own Office for National Statistics (ONS) says our debt actually stands at 43.6 percent. Brown only quotes IMF figures because they don't include Northern Rock which the NAO ruled against Brown by saying it must be included. Britain's national debt is even higher if PFI is brought on balance sheet.
Brown is playing with figures. He used IMF figures, however, Britain's own Office for National Statistics (ONS) says our debt actually stands at 43.6 percent. Brown only quotes IMF figures because they don't include Northern Rock which the NAO ruled against Brown by saying it must be included. Britain's national debt is even higher if PFI is brought on balance sheet.
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