“The Tesco” – a new unit of measurement!

Baffled by billions? Dazzled by the scale of government debt? Stupefied by spending figures? According to an amusing BBC article government ministers increasingly struggle to get their heads round the national finances. For most of the numbers in public argument have gone enormous too. Billions, trillions? Too many zeros. What better way to understand them than with a new unit of measurement? From now on the Treasury will measure the economy and public spending in: The Tesco.

The company’s UK sales this year were about £40bn. Hey presto! Now you can judge the scale of the following:

The UK economy = about 35 Tescos
NHS spending = 2.5 Tescos
Total UK government spending = about 15 Tescos.
Total UK government debt = about 22 Tescos.

And the same figures say that 1 pound in every 28 passes through Tesco. Read more and check out some graphics here.