US EditionPublic finances in 'relatively vulnerable position', OBR warns
UNITED KINGDOM, JUL 8 – The Office for Budget Responsibility warns that UK debt could exceed 270% of GDP by the 2070s, with 3.5 million taxpayers moving into higher tax brackets by 2028-29.
- The Office for Budget Responsibility released its report today, warning of 'daunting' near-term fiscal risks and a substantial erosion of the UK’s capacity to respond to shocks.
- Recent policy reversals, including reinstating winter fuel payments and abandoning benefit cuts, have increased UK debt and left public finances more vulnerable, the OBR warns.
- Data shows tax thresholds will bring 4.2m into income tax and pull 3.5m into higher-rate band; UK debt stands at 96.4% of GDP, projected above 270% by early 2070s.
- The OBR warns that by 2028-29, 3.5 million more taxpayers will enter the 40% higher-rate band, while savers’ allowances halve and pension costs exceed £15.5 billion annually.
- The OBR warns long-term pressures from aging, climate change, and increased defence spending will strain UK public finances, with debt projected above 270% of GDP by the 2070s.
34 Articles
34 Articles
Britain is growing old disgracefully
Like being sentenced to death while watching golf, the Office for Budget Responsibility’s latest report on fiscal risks and sustainability manages to be at once very tedious and very frightening. It is not the sort of document a normal person should be expected to read, and yet it concerns us all. It is a picture of an economy that is ageing badly. Britain can no longer afford to exist as it has in previous decades. The report describes the UK f…
Expert says that we should be 'very worried' about national debt
Tom Harwood has expressed alarm at the Office for Budget Responsibility's latest projections, which showed that UK national debt could soar to 270 per cent of GDP, stating it as "effective bankruptcy."The OBR's annual Fiscal Risks and Sustainability report, published today, warned that the UK's public finances are in a "relatively vulnerable position" following a series of economic shocks.Speaking about the bombshell report on GB News, host Emil…
Coverage Details
Bias Distribution
- 39% of the sources lean Left
To view factuality data please Upgrade to Premium
