Pinocchio Brown says debt has been reduced from 44 percent to 37 percent, "and that is a fact". But that's only because he's fiddled the figures. The Office of National Statistics (ONS) says debt is 43.4 percent and even that excludes debts incurred under PFI contracts, unfunded public sector pensions and other liabilities. See Fraser Nelson's piece over at Spectator Coffee House for more information.