UK public debt projected to almost triple by the mid-2070s
https://www.theguardian.com/business/live/2024/sep/12/john-lewis-partnership-halves-losses-profits-openai-150bn-european-central-bank-business-live?CMP=share_btn_url&page=with%3Ablock-66e2a6bd8f086d5a40e6888d#block-66e2a6bd8f086d5a40e6888d
Posted by wjfox2009
11 Comments
That sounds about right given inflation over the next 50 years.
Office for Budget Responsibility warns that the UK – **and other countries** around the world – face several long-term pressures, such as an ageing population, climate change, and rising geopolitical tensions.
These are universal problems all countries are facing, this is nothing unique to the UK before this sub starts its usual UK hate train
You know what?
I don’t care about the debt, personally, I am not sure it really affects the common guy.
We have crazy amounts of debt right now. What really bothers me is that it seems like we have zero to show for it. The roads are crumbling, councils are having to cut back on services more and more. The NHS on its knees etc etc etc.
Why am I paying loads of tax, and the debt keeps going up, but the country is still shit? I am mostly blaming tories for this, because its been their house for the last 14 years. Where is all the money actually going?
The global economy runs on nations accruing debt. I don’t think this is as dramatic as it sounds, merely a natural process of how currencies will be valued by 2075, and how services will have to expand. Assuming, of course, that we remain on the current trajectory.
So we need to grow the economy at approximately the same rate as inflation. That’s all there is to it.
not really new, the bank of international settlements has been projecting 400% of GDP since 2010.
https://www.bis.org/publ/work300.pdf
Ask whoever the debt is owed to to waiver it and give them the keys to every village/town/city and Buckingham Palace for the summer months or something I dunno. That’s a ridiculous proposition as an entire nation being in debt to an entity in the first place.
Who has two thumbs and will never get a state pension? This guy!
I call bullshit… The bond market would implode well before those Debt/GDP ratio figure even get close.
Most things will be closed to tripling by then. That’s how inflation works. And the largest slice of debt is efficiently to ourselves, so who cares.
This may be a stupid question, but which countries aren’t in debt? It seems like every country is in debt.