The latest statistical release from the Office for National Statistics (ONS), reports that Britain’s public sector debt at the end of March 2012 was £1022.5 billion or 66% of GDP.
However, if the financial sector interventions (e.g. the bailouts of Lloyds, RBS etc.) are included, then our total public sector debt was £2181.0 billion or 140.8% of GDP.
Now compare that to Greece’s debt to GDP. According to data from Eurostat, the European Union’s statistical agency, Greece’s debt is currently 159% of GDP.
So in terms of total public debt Britain really isn’t that far behind Greece.