UK public sector could have £4trn of hidden debts

Highlighting the scale of the economic challenges facing the Government, the Office for National Statistics (ONS) has released a study suggesting the public purse could be faced with £4.84trn of liabilities. This compares with the current public sector net debt figure of £903bn, the Telegraph reports. Every man, woman and child in the country is carrying a £65,000 share of state debt, according to the first official breakdown of how much the Government really owes. David Hobbs of the ONS described the public sector balance sheet as an "open-ended concept" as he outlined liabilities...