What the UK government owns and what it owes For decades, one of the main fiscal targets of the Government has been to reduce the level of public sector debt. This covers not just central government but also local councils and state-controlled companies. Debt estimates are presented every month in the public sector balance sheet, which shows the financial position at a single point in time. However, there are several different balance sheet measures, some broader in scope than others. How do they differ? Grant Fitzner has today blogged about this and a new measure to be introduced next week. | 