It wasn’t a good week for UK debt figures. On Monday the Centre for Economics and Business Research (CEBR) published a study purporting to show the real state of public finances. It estimated the UK’s true public debt at £2 trillion compared with official figures of around £900 billion. This wasn’t a total surprise; the right-wing think tank Centre for Policy Studies estimated £2.2 trillion back in November last year.
But worse was to come. On Wednesday The Independent revealed that the Office of National Statistics (ONS) estimates public finances are more like £4 trillion in the hole.
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