Public sector net debt (on the Treasury’s definition) rose to £640.9 billion, or 42.9% of GDP. This does not include other liabilities such as off-balance sheet public sector pension liabilities.

Unfunded government spending is getting worse as the economy nose-dives. it would have been much worse if wasn’t for the receipts from oil companies.

With oil back down to $50 a barrel that won’t be the case in the future…