Thanks once more to Dottie for alerting me to this.
From Richard Murphy, today:
The national debt has just fallen by £1.5 trillion
There is a very strange feature that, as far as I can see, has not had much attention paid to it so far within the Whole of Government Accounts for the year to 31 March 2023 that were published yesterday.
Ignoring the fact that, as I noted yesterday, these accounts were subject to qualification by the National Audit Office because about 90% of the data from local authorities required for their preparation was either unavailable or had not itself been audited, some parts of this data might be considered reliable, and this might be true with regard to interest costs arising during the course of that year and pension liabilities owing at the end of it.
The critical figure to look at is net public sector pension liabilities as shown under non-current liabilities, and as is clear, this potential cost fell from£2,639 billion to £1,415 billion during the year, or a decline of £1,224 billion – or almost half the UK’s annual income.
What is more, the total UK government deficit fell from £3,875 billion to £2,389 billion or by £1,486 billion (or, near enough £1.5 trillion) in total, or well over half the UK’s total annual income for this year. And I stress that this happened in a single year, and all because interest rates rose so much that future pension costs are now considered to be vastly more affordable.
The good news is that the UK is now, near enough, £1.5 trillion better off than it thought. That money should, as a result, now be available to be spent on making sure that those pensioners for whom the provision is being made might have a country in which it is possible to live in their old age.
The good news is that the government should be trumpeting this – the supposed burden of costs on our grandchildren has been reduced considerably, and we can concentrate on giving them an inheritance instead. https://www.taxresearch.org.uk/Blog/2024/11/27/the-national-debt-has-just-fallen-by-1-5-trillion/
What might this mean? Dottie is direct:
First where’s the £22 BILLION black hole? Why austerity on steroids of the new, new Labour government? It’s just their CHOICE to abolish winter fuel payments, not fund health and wellbeing of people, increase energy costs and so. They don’t need to.
The UK government has accepted this set of accounts. It will be the basis for GERS, then by corollary the Scottish national debt has fallen by £150 BILLION. If this doesnae show in GERS then more evidence of the guff from Westminster.
Quite.
Talking-up Scotland 'Albatraz' 
“Latest UK national debt has fallen by £1.5 TRILLION so Labour cannot deny pensioners a country in which it is possible to live in their old age”
What about WASPI women ?
Is no one as a member of the public , or indeed the media, not highlighting how Labour when in opposition to the Tories at WM, constantly accused the Tories of neglecting to right, as in address, the cruel injustice suffered by WASPI women.
As in the same media, who apparently are those who are completely obsessed with supposed failures and lack of action via the SNP being constantly exposed by them , as a so called media in Scotland.
Those WASPI women, not being compensated for what was an extremely unfair and wrong decision in adjusting their pension age , where some women were never given the appropriate and timely notice of this change to their pension age by the Tory UK government at the time.
This of course is also a double whammy in that many of these WASPI women , who are married to men in receipt of their state pensions as men of pensionable age, will also now not be getting the Universal Winter fuel payment via their husband who formerly was entitled to it.
Where the duck is this so called CHANGE via Labour as the new UK government.
I think the previously promoted assumed apparent very large UK debt, must have been ignored by Labour in their GE campaign , where Labour promoted that with them at the helm as the new UK government we , the public, to include we assumed WASPI women, Pensioners and those in poverty, would then see a new dawn aka a “Fresh start” apparently.
However the reality has now become very much one where we all now seem to be in the dark (ages Ha Ha), and where things are looking distinctly very very very gloomy with Labour in charge as the new UK government.
Where all they, Labour, do is to repeat on a loop the existence of the supposed “financial black hole” which excuses them, they think, from fulfilling many of their pledges.
As to all of the actual UK debt well for me it seems Labour are becoming , like the Tories, a liability that we in Scotland can do without, however they, as the new UK government, seem to not recognise or acknowledge that they have a moral obligation , as a new UK government, to people like WASPI women, Pensioners and also families in poverty (with and without children).
They, Labour, made many many statements (promises) prior to being elected as the new UK government, so they should now pay their outstanding dues instead of ignoring what they owe those who elected them, as they , Labour, should now feel indebted to those who voted for them and so placed their trust in them, now in what is seemingly very much a misplaced trust.
One hopes that in Scotland in 2026 many more voters will be enlightened and so fully clued up to the duplicity, spin, lies etc etc etc that Labour as a party promoted, and too that their client media also promoted as well on their behalf, all with the purpose for them, Labour, to gain undeserved power as the new UK government.
The same media will do (are doing ) the same for Labour in Scotland all the way up to the Scottish elections in 2026
God only knows what will happen in 2026 but I really really hope that logic, intelligence, reason and a huge amount of common sense will prevail in the votes cast in the Scottish elections.
If you vote Labour in 2026 then you vote to still live in what is a UK Black hole that as a UK will put their debt onto us , Scotland, and so make out that Scotland is the debt ridden Basketcase of the UK via questionable GERS figures that only represent a supposed whole ‘debt’ as part of that UK .
I guess if that’s what some Scots want then they will ‘Fill their boots’ will they not (yet again) and still vote Labour in 2026.
Though I hope not !
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