The figure - which equates to £7,600 for every family in Britain - is far higher than the Treasury's official forecast of £175billion.
The latest IMF report has revised its estimates for the scale of Britain's deficit upwards.
It predicts that by 2010, the UK's debt will equate to 13.3 per cent of gross domestic product - compared with 9.7 per cent for the U.S.
I seem to remember Labour types making a fool of Alec Salmond's 'Arc of Prosperity'.
THEY' RE SAYING FUCK ALL NOW!