UK public finances are among weakest in the world, IMF says

Health check shows almost 1tn wiped off wealth of public sector since 2008 crash

Britain's public finances are among the weakest in the world following the 2008 financial crash, according to a fresh assessment of government assets and liabilities by the International Monetary Fund (IMF).

The Washington-based lender said a health check on the wealth of 31 nations found almost 1tn had been wiped off the wealth of the UK's public sector - equivalent to 50% of GDP - putting it in the second weakest position, with only Portugal in a worse state.

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