Britain debt problem four times larger than previously admitted

Despite the UK's draconian spending cuts, S&P kept its downgrade threat hanging over Britain.
Today the reason was revealed.

The true scale of Britain's national indebtedness was laid bare by the Office for National Statistics yesterday: almost £4 trillion, or £4,000bn, about four times higher than previously acknowledged.
It quantifies the burden that will be placed on future generations, and it is the ONS's first attempt to draw together the "off-balance-sheet" liabilities that have been accumulated by the state. The figures imply a huge "intergenerational transfer" – broadly in favour of today's "baby boomer" generation at the expense of younger people and future generations.

How is it possible for the estimates to have been that far off? Either someone is lying now in order to justify gutting the social safety net, or someone was lying very recently to avoid a hard decision.

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did they hid it in their central bank?

Like the U.S. hid the never ending Bankster bail out?

On a lighter note, the U.K. unemployment rate fell to 7.8%.

They too have problems with global labor arbitrage, outsourcing, guest workers, the never ending temporary worker, forced part-time.

So, how can they manage to create a greater percentage per population of jobs than the U.S. if they are in such a mess?

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