The government has published the Whole of Government Accounts for the year to 31 March 2014 this morning.
As they say of these:
So, the first question: why delay publication until the last day possible so that the PAC has no chance to challenge this government during this parliament? I smell a rat. Candidly, the delay is wholly unacceptable whatever the reason. Six months is the longest time it should take to produce this data.
Having said so, let's then look at the picture the accounts show. This is a summary:
In four years this government managed to increase the UK state's net liabilities by £623.9 billion.
Let's put that in context: From time immemorial until 2010 the state had accumulated a deficit of £1,227.9. And it has grown by 51% by 31 March 2014.
If the trend continues the deficit by this measure will be £156 billion this year. If that is the case the deficit at 31 March 2015 will be £2 trillion and 39% of this will have been accumulated under the Coalition.
That's some record of competence.