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Christmas debt timebomb unwrapped

December 15, 2009

Here's a little factoid to depress your colleagues at the office Christmas party. In a couple of hours - the time it takes to polish off turkey, all the trimmings and Christmas pudding - you and all UK taxpayers will be £72m worse off.

The New Party - an odd collective of people that have formed their own political party - has calculated what it says is the "true level of national debt". The party's debt counter shows that every 10 seconds, every man, woman, and child in the UK is a further £100,000 in debt. Let's put this into a yuletide perspective for you.
  • A quick half an hour down the pub: £18,000,000 + the price of a pint or two
  • Watching the inevitable Christmas Bond movie: £54,000,000 
  • A game of 'Just a Minute': £600,000 
  • A half hour nap after lunch: £18,000,000 
  • Opening presents: £4,500,000 to £18,000,000
"The counter shows the true level of debt including public sector pension liabilities and many of the liabilities under PFI contracts. It doesn't make for a comfortable time around the table this Christmas, or for many Christmases to come," says New Party leader Richard Vass.

Thanks for that cheery message this Christmas, Richard.
 
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Posted for your edification by Guru on December 15, 2009 8:46 AM |

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Guru is Personnel Today's notorious HR commentator. He's been working in HR for far too long and observes every passing management fad with a mixture of anger and amusement. His blog is the one thing saving his long-suffering wife, Mrs Guru, from having to endure too much of his ranting about the big HR stories of the day.

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