I got an email late last week from the National Audit Office inviting me to explore the latest Whole of Government Accounts. Given that I may be one the handful of people in the UK who does read these accounts I marked the mail for attention later and just took a look. I was presented with this graphic:
Very politely, this is akin to gibberish.
Whatever the NAO was trying to communicate they have clearly failed to do so.
We deserve vastly better public accounting than this.
No wonder the public are confused.
I would classify it as a 'fail'. And a pretty spectacular one at that.
NB 6pm 6 June: I have had a response from the NAO on this blog. I am waiting for their permission to publish it
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Richard,
Either you have a more finely developed sense of irony than I’ve previously given you credit for, or the second sentence above is almost beyond parody.
Whatever you were trying to communicate you have clearly failed to do so.
We deserve vastly better blogging than this.
No wonder the public are confused.
I would classify it as a ‘fail’. And a pretty spectacular one at that.
(All with tongue firmly in cheek I assure you)
Edited!
Have the WGA ever presented anything that represents the reality of monetary operation?
No
A publication from our own dear government gibberish, surely not? Harris, I feel faint, pray fetch me a brandy.
OMG! That is terrible. Graphics look as if techies have taken over the asylum. Have you looked at the FAQs?
“How many years will it take to pay off the Government’s debt?
The WGA, in accordance with accounting standards, does not include as an asset the Government’s ability to meet its payments through future taxation and borrowing. Currently the cost the Government pays on its gilts is low in comparison to other countries, and by historical standards.
While some Government debts will have to be paid over the next few years, the public sector liability contains long-term costs such as nuclear decommissioning and public sector pension schemes, which will be have to be paid over many years to come.”
It’s pathetic
Not least because we nenver, ever need to pay off government debt and there would, literally, be no money left if we did
You took the words right out of my fingers.
If you think this is gibberish how do you think the “gibbers” feel? All of those who are obliged to feed data into a gigantic spreadsheet regardless of the logic involved.
Multi fund SORP charity NDPBs consolidated into single fund government accounts.
How much public money goes to finance the production of such ground breaking information which in their own words, no=one reads?