¹Office for National Statistics

Abstract

This article addresses the issues raised by banking groups, including Northern Rock, Bradford and Bingley, Royal Bank of Scotland and Lloyds Banking Group, coming into the public sector. In particular clarifying how they are presented in the National Accounts and public sector finances and discussing the publication of more asset and liability detail than currently shown in public sector finances balance sheets. The article then proceeds to consider the impact on public sector net debt and the relevance of different measures of debt.