Britain’s addiction to borrowing is a recipe for disaster
Britain's increasing national debt poses significant economic risks, with borrowing becoming a central issue in political discourse. The reliance on public borrowing has led to a culture of dependency and financial mismanagement. Experts warn that unless this trend is addressed, the country may face dire consequences.
- ▪Britain's national debt has risen to around 100 percent of national output.
- ▪Interest on public debt now costs over £100 billion a year, making it the third largest source of government spending.
- ▪About six out of every seven pounds of new government borrowing is used to pay interest on existing debt.
Opening excerpt (first ~120 words) tap to expand
Britain’s addiction to borrowing is a recipe for disaster Unless we confront the spiralling national debt, we will be condemned to managed decline. i Picture by: Getty dataLayer.push({ event: 'author', author: "Phil Mullan" }) Phil Mullan 6th June 2026 i Picture by: Getty Share Topics UK Want unlimited, ad-free access? Become a spiked supporter. Is Britain about to be plunged into even greater economic chaos? Pundits have highlighted a remark made by the supposed prime minister in-waiting, Greater Manchester mayor Andy Burnham, in an interview he gave to the New Statesman last year. The government, he said, had to ‘get beyond this thing of being in hock to the bond markets’.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at spiked.
Discussion
0 commentsMore from spiked
