The conservative newspaper The Telegraph reports that an economic think-tank, The Integenerational Foundation, has found that the total cost of British P3s (public private partnerships) has reached such great heights that it is threatening Britain’s AAA credit rating. The credit rating determines how cheaply the Government can raise money on the international markets. The lower it goes, the more it costs the government to borrow money. The think tank reports that the P3 debts are £239 billion ($380 million), 80 per cent higher than the report of £131.5 billion in P3 debts released this week by the government in its new "Whole of Government Accounts". The think tank warned the cost of P3s has been under-appreciated. “Such build-ups clearly put Britain’s AAA credit rating at risk by adding over a quarter to the country’s £1 trillion national debt,” said Angus Hanton, co-founder of Intergenerational Foundation. Reportedly, P3 debt is up to £13,000 per taxpaying househ
Notes from Leftwords -- Doug Allan