Hidden debt

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Vexed has two good posts on Government's fiscal irresponsibility and poor attempts to justify the exploding debt against GDP, which are worth a read.

One additional point to bear in mind.

When Ms. Cox declares our debt as $679M (and counting but excluding the $200M guarantee on the Bank of Butterfield), she ignores the hospital redevelopment.

That project is an additional $315M of debt (budgeted, if past is prologue it will be multiples of that) hidden off the books through an accounting gimmick of Public Private Partnerships.

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