I believe that no 'legacy' political Party would ever dare to publish such a thing as an honest UK plc balance sheet. On seeing the reality, there would be close to a revolution.
Never mind the state pension, consider the Public Sector pension liabilities, all of them.
Consider the 'off books' Private Finance Initiative liabilities hidden by Gordon Brown, a cumulative debt here alone of circa £300 billion for a borrow of less than £50 billion.
Consider all the other CONTINGENT LIABILITIES.
Consider all the OFF BALANCE SHEET LIABILITIES.
Never mind PFI, consider all the PUBLIC-PRIVATE PARTNERSHIP liabilities.
Consider all the 'implicit liabilities' and 'unfunded obligations'.
in other words: we are all screwed! Public sector pensions liabilities alone will sink the fiscal boat in the 2050s. Add into the mix the current wave of 'green energy' subsidies (via CFDs) that guarantee we will have the highest energy costs of the industrialised world, along with corresponding collapse in our economy and the sane amongst us will know instinctively that the UK will end up in a similar situation to Argentina within 20 or so years. Those same sane people will just up sticks and move abroad
I believe that no 'legacy' political Party would ever dare to publish such a thing as an honest UK plc balance sheet. On seeing the reality, there would be close to a revolution.
Never mind the state pension, consider the Public Sector pension liabilities, all of them.
Consider the 'off books' Private Finance Initiative liabilities hidden by Gordon Brown, a cumulative debt here alone of circa £300 billion for a borrow of less than £50 billion.
Consider all the other CONTINGENT LIABILITIES.
Consider all the OFF BALANCE SHEET LIABILITIES.
Never mind PFI, consider all the PUBLIC-PRIVATE PARTNERSHIP liabilities.
Consider all the 'implicit liabilities' and 'unfunded obligations'.
They simply wouldn't dare expose the truth.
in other words: we are all screwed! Public sector pensions liabilities alone will sink the fiscal boat in the 2050s. Add into the mix the current wave of 'green energy' subsidies (via CFDs) that guarantee we will have the highest energy costs of the industrialised world, along with corresponding collapse in our economy and the sane amongst us will know instinctively that the UK will end up in a similar situation to Argentina within 20 or so years. Those same sane people will just up sticks and move abroad
Burnham is a complete and utter arsehole.