New UK PM faces $440 billion fiscal problem, think tank says

Think Tank to Andy Burnham: Britain's £330 Billion Crisis Won't End Without Painful Tax and Pension Changes

Andy Burnham will officially be the head of the United Kingdom on Monday, 20 July, and will be expected to face a trifecta of problems—weak growth, an ageing population and an increasingly sick citizenry. These problems compound to a loss of about £330 billion every year for Britain, according to think tank Resolution Foundation 'Britain has been hit by a triple whammy of weak growth, rising ill-health and an ageing population over the past 20 y…

New UK PM faces $440 billion fiscal problem, think tank says

The three steps needed to climb out of the UK’s fiscal hole • Resolution Foundation

Dear Chancellor (whoever you are), I advised a few (nine!) Chancellors in my time in the Treasury but never before did I get to write what I think, uninhibited. Even so, Jeremy Hunt said he appreciated me “speaking truth to power with a smile”. So, as you read this unsolicited advice, I promise I’m smiling… Your first meeting will probably be on the economy, the second on fiscal. You will get a stash of reading where officials attempt to show th…

Andy Burnham must confront two-decade fiscal funk that is costing Britain £330 billion a year

A triple whammy of weak growth, an ageing population and rising ill-health since 2007 are costing Britain around £330 billion a year today which is being offset by an unholy trinity of higher taxes, lower public services spending and more borrowing.   The new residents of Downing Street need a bold new fiscal strategy to break Britain out of its funk, or else the policy trade-offs will get even more painful, according to major new Resolution Fou…

New UK PM faces US$442 billion fiscal problem, think tank says

A new fiscal strategy is needed Read more at The Business Times.