Matt on Nostr: Anyone who supports increasing government debt is deeply immoral, it's placing an ...

Anyone who supports increasing government debt is deeply immoral, it's placing an unpayable yolk on the neck of people who havent even been born yet.

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Britain’s debt problem just got worse.

Right now:
- 6%+ on 30 year gilts, highest since 1998

By 2027/28:
- £117 billion debt interest
- £96.5 billion new borrowing

Over 5 years:
- £682 billion interest
- £58 billion above OBR’s March forecast

Britain is now forecast to spend more on debt interest than it will borrow that year.

After all of that, Britain still owes nearly £3 trillion.

https://uknationaldebt.com/

The Budget is on 28 October and the choices are brutal:

- Tax more and risk capital leaving
- Borrow more and pay more interest
- Dramatically cut spending*
- Debase the currency (although they won't call it that)

* Even savage spending cuts will barely make a dent.

Source: This is Money / Capital Economics / OBR

https://www.thisismoney.co.uk/money/markets/article-16180359/Alarm-Healey-set-spend-loan-repayments-borrowing-latest-Budget-blow.html
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