from Gold Core:
A radical overhaul of the UK national accounts is set to double the official measure of household savings rates
according to the Financial Times. The moves will present Britons as a nation of unexpected prudence and undercut their widely held reputation for profligacy and indebtedness.
For the first time in 15 years, the Office for National Statistics (ONS) is preparing to rip up the way it measures Britain’s economy. The new “techniques” will show a huge increase in the size of the economy, a higher level of public debt and a much increased savings ratio.
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