Britain has sunk into a pit of debt which is five times deeper than previously feared, with the country now owing the equivalent of £200,000 per household. Instead of the £1 trillion reading normally presented as the nation's debt, the UK is in the red by closer to £5 trillion... a broader set of ONS figures taking in Government liabilities show unfunded public service pension obligations could add another £1.2 trillion and liabilities in unfunded state pension schemes a further £1.35 trillion. The sum is almost four times the size of the UK's total gross domestic product in 2009...a more...
