Film maker Martin Durkin explains the full extent of the financial mess we are inBritain’s Trillion Pound Horror Story will be transmitted on Channel 4 tonight at 9pm:

Film maker Martin Durkin explains the full extent of the financial mess we are in: an estimated £4.8 trillion of national debt and counting. It’s so big that even if every home in the UK was sold it wouldn’t raise enough cash to pay it off.

Durkin argues that to put Britain back on track we need to radically rethink the role of the state, stop politicians spending money in our name and introduce, among other measures, flat taxes to make Britain’s economy boom again.

This is a polemical film presented by Martin Durkin. The film brings economic theory to life and makes it hit home. It includes interviews with academics, economic experts, entrepreneurs and four ex-Chancellors of the Exchequer.

I understand my section on money, banking and the cause of the crisis has been cut, which is rather disappointing, but still…

See also my related speeches.

Update: With this post attracting so much traffic via Google, I’d like to recommend my recent speech on money and banking which comprises most of the information I gave in an interview for the film. Unfortunately, the interview didn’t make the final cut.

You can find the video and slides here. The documentary is now available here.


  1. In the film he mentions the ‘true’ government debt at £4.8tn including the pension liabilities and the deficit at £155bn, this is official figure that doesn’t include the change in pension liabilities / PFI expenses etc. If you include the change in future pension liabilities in the deficit (in particular the decrease due to change in inflation measure and the accelerated rate of increase of pension age that have happened this year) what would you get for the ‘true’ deficit? It’d certainly decrease it and isn’t it possible we’ll end up with a massive surplus?