Coronavirus Latest News

Now Britain is in the 100% debt-to-GDP club, what’s the spending plan?

Covid has pushed many states’ debts above annual income, but the UK has lower credibility than some with lenders

Britain is about to become a member of a club it has avoided joining for six decades – that of nations with a 100% debt-to-GDP ratio.

Such is the size and scale of the rescue packages needed to prevent the energy crisis overwhelming millions of families and avoid thousands of businesses going bust, a debt ratio that shot up from 83% to 94% in the first months of the pandemic and touched almost 104% in 2021, is now on course to stay in three figures for the rest of the decade.

Continue reading…

Read the original article at The Guardian

Related Articles

Back to top button