The Office for National Statistics reports that the net national asset value of the United Kingdom has fallen to £6.95 trillion, a decline of 2 per cent from the previous year and the first fall in national wealth since 1992.
When contemplating that figure, it is worth considering also that the total cost to the country, in terms of advances and guarantees, of saving the British banking system from collapse amounts to £1.3 trillion, or almost 19 per cent of the net national wealth.
If that’s not a troubling statistic, I don’t know what is.
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