Recommendation 7

The Treasury estimated that there is approximately £133.6 billion of property, plant and equipment missing from the accounts, and approximately 104.6bn of missing public sector pension liability.16 The overall impact of missing data across the accounts is estimated to be that net liabilities are overstated by £31.7bn (1.3% of total), and net income is overstated by £34.4bn. The C&AG notes that including the missing expenditure would therefore move the published net income figure of £14.6bn to a net expenditure figure of £19.8bn.17