Question on National Debt.
Many readers are asking about the true value of National Debt as some commentators are suggesting the real value of national debt is closer to £2 trillion rather than the official figure of £613 billion.
See: Readers Question: What is true level of government borrowing?
Basically, I tried to use an analogy. if you have a loan of £10,000 and in 10 years, you knew you had to pay £7,000 for your children's education - would you include this spending commitment in your level of debt?
Also, if you acted as guarantor for your child's mortgage of £50,000, would you consider your level of debt to be £10,000 or £60,000?
(I know It's not a perfect analogy, but it helps to give a perspective we can more easily relate to)