In Terms Of Debt Britain Is Not Far Behind Greece

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.

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