True level of the UK government's debt estimated at £4.8 trillion
The study’s calculation includes liabilities such as public sector pensions and state pensions, as well as an allowance for the bailed-out banks.
The author advocates a series of measures to tackle the debt problem, including the reform of public sector pensions and an increase in the retirement age.
2010, Discussion Paper 28
Sir Humphrey’s Legacy: Facing up to the Cost of Public Sector Pensions by Neil Record.
Living with Leviathan: Public Spending, Taxes and Economic Performance by David B. Smith.
How Should Britain’s Government Spending and Tax Burdens be Measured? by David B. Smith.