UK 🇬🇧 reduces national debt by $2.3T (from $3.1T) by changing the rules for how the debt is calculated. The headline national debt number is now offset by publicly held assets, regardless of if they can be sold or not, and with questionable appraisal values. This happens just as the debt to GDP ratio reaches 100%.

One British MP was quoted saying: "looks like borrowing is back on the menu boys!" While smacking his lips and drooling over a porky govt spending bill 🐖

(Ok, I made up that last part)

🤡🌍🇬🇧

#Bitcoin #Economics

https://www.marketplace.org/2023/05/17/uk-national-debt-public-sector-net-worth/