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  1. #1
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    crippen's Avatar
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    The REAL cost of Britain's debt mountain: £78,000 for every family

    The REAL cost of Britain's debt mountain: £78,000 for every family
    By KIRSTY WALKER
    Last updated at 11:36 PM on 12th July 2011



    Backing: Chancellor of the Exchequer George Osborne wants the taxpayer's to see a more transparent version of the country's accounts
    The true size of Britain’s debt mountain can be revealed today as £2trillion – nearly £80,000 a household.
    Previously ‘hidden’ liabilities including the cost of public sector pensions and building projects are being published by the Treasury.
    They show that future payments to retired teachers, police officers and NHS staff will cost taxpayers £1.1trillion, or £1,100billion.
    The enormous figure, which is equal to 80 per cent of Britain’s output, is treble the combined national debts of Greece, Spain, Portugal and Ireland.
    The future cost of schools and hospitals built under the controversial Private Finance Initiative will pile an extra £40billion on to our debt mountain.
    The £1.1trillion and the £40billion come on top of the official debt figure of £909billion.
    The figures will appear on the Government books for the first time when it publishes full accounts for every Whitehall department.


    Read more: The REAL cost of Britain's debt mountain: £78,000 for every family | Mail Online

  2. #2
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    The public sector is going to face the same pain over pensions as the private sector has in recent years if the UK is to avoid the same fate as Greece.

  3. #3
    Have you got any cheese Thetyim's Avatar
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    Quote Originally Posted by crippen
    They show that future payments to retired teachers, police officers and NHS staff will cost taxpayers £1.1trillion, or £1,100billion.
    Can someone explain that figure?
    Payments I assume means pensions.
    Is the 1.1T per year or over the expected life span ?

  4. #4
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    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by crippen
    They show that future payments to retired teachers, police officers and NHS staff will cost taxpayers £1.1trillion, or £1,100billion.
    Can someone explain that figure?
    Payments I assume means pensions.
    Is the 1.1T per year or over the expected life span ?
    Luckily it is not per year. It liability of future and present payments for when people in the public service retire.

  5. #5
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    Wouldn't bitch...look at Greece's debt. Still, won't be long before before they send in the Chicago school economists and solve the problem by buying out your profitable public and private companies in order to service your national debt. Soon the whole world will be owned by Wall street....but, that's globalization for ya. If you see the IMF boys a comin...open up w/ both barrels! Thatcher-ism all over again.



    Mommy plays with my wee-wee - Every Korean boy under 21

  6. #6
    Have you got any cheese Thetyim's Avatar
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    Quote Originally Posted by DroversDog
    It liability of future and present payments
    So it could be based on 15 years liability.
    Someone is trying to paint a bleak picture

  7. #7
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    Quote Originally Posted by spliff View Post
    Wouldn't bitch...look at Greece's debt. Still, won't be long before before they send in the Chicago school economists and solve the problem by buying out your profitable public and private companies in order to service your national debt. Soon the whole world will be owned by Wall street....but, that's globalization for ya. If you see the IMF boys a comin...open up w/ both barrels! Thatcher-ism all over again.
    You hit the nail on the head.

  8. #8
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    Quote Originally Posted by DroversDog View Post
    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by crippen
    They show that future payments to retired teachers, police officers and NHS staff will cost taxpayers £1.1trillion, or £1,100billion.
    Can someone explain that figure?
    Payments I assume means pensions.
    Is the 1.1T per year or over the expected life span ?
    Luckily it is not per year. It liability of future and present payments for when people in the public service retire.
    On a personal level, it would be the net present value of all of the future utility, housing, food, expenses (etc.) of a 30 year old college graduate. That figure does not include the net present value of future income of our bright and energetic young debtor

    Public debt levels are a serious matter in the UK, USA and many other developed countries; however, they are not an immediate danger to their respective economies. There is still time to resolve the situation, if we have the resolve and will to do so. Therein lies that pom pen thingy

  9. #9
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    Quote Originally Posted by Thetyim View Post
    Quote Originally Posted by DroversDog
    It liability of future and present payments
    So it could be based on 15 years liability.
    Someone is trying to paint a bleak picture
    With the economy in its present state and current demographic trends the picture is bleak. Lots of people expecting to retire comfortably and a reducing ability to fund them.

    Cameron is either preparing the public sector for some nasty cuts or is hoping to justify further tax increases.

    Let's see, "we want all of you in the private sector who are having to work into your 70's to pay higher taxes so the public sector can continue retiring at 55". Nope, can't see it myself. I expect he's planning to "reform" the public sector in a similar fashion to the way Thatcher "reformed" the private sector.
    I see fish. They are everywhere. They don't know they are fish.

  10. #10
    Fresh Seaman CaptainNemo's Avatar
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    Quote Originally Posted by Thormaturge View Post
    The public sector is going to face the same pain over pensions as the private sector has in recent years if the UK is to avoid the same fate as Greece.
    I want the fuckers to march, it'll make it easier to gun the socialist shit down, now we can see the ultimate results of them getting their own way for decades.

    They finally got their 3-term labour rule, and raped the world economy and left the country clinging on by it's fingernails for decades to come.

    Labour should be put on the list of proscribed terrorist organisations for what they've done to the UK, it's far worse than anything that happened under Thatcher.
    http://www.youtube.com/watch?v=H1F2i0rYMj8

    we are all figments of our own imagination.

  11. #11
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    Quote Originally Posted by crippen
    Chancellor of the Exchequer George Osborne wants the taxpayer's to see a more transparent version of the country's accounts
    In that case he should tell people that some of these figures he's quoting are derived from estimating the life expectancy of men at 104 years
    I got that off of Radio 4 so no link.

  12. #12
    Molecular Mixup
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    You can see even on a local level how fuked Britain has become
    I was in the main library in Scarborough and ,
    enquired about the computer magazine they have,
    and was told -sorry cutbacks, we don't take magazines anymore ...
    I was going to ask if spending a fortune on a bookcase full of Polish books was such a good idea after all, but decided not too.

    Britain is supposed to be a rich country ,but too poor to fund the library.
    What a liberty !!
    ,I had to go and stand in WH Smith and read it there.

  13. #13
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    ^Using a library to read instead of buying books/magazines is anti-capitalist!

    Socialist scum.

  14. #14
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    I don't see why this is such a big problem. Just have eveyone write a cheque for seventy eight thousand pounds and sent it to the treasury department. Problem solved... It's just a matter of people with no money sending the money they don't have to the government that has no money. This is what governmets around the world do all the time.....what's the matter with these people?..

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