Britain ‘set for BANKRUPTCY amid £1.85trillion of hidden debt’
FUTURE generations will inherit a bankrupt country, as the Government hides a staggering £1.85trillion of debt, a think tank has warned.
By LANA CLEMENTS
Express.co.uk
Mon, Apr 18, 2016
Public sector pensions are a ticking debt bomb with around £1.3trillion needed to cover 93 per cent of the benefits that are currently unfunded, according to a report by the Adam Smith Institute.
The state is taking on new liabilities, while disguising the huge debt that could implode for future generations, the think tank claimed after analysis of the Whole of Government Accounts.
It said the actions are both immoral and reckless with crippling liabilities on top of the national debt, two thirds of which is made up of “unsustainable” public sector retirement monies.
Furthermore, the Department of Business, Innovation and Skills expects to write off 45 per cent of student loans, according to the report.
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