Article
Britain Once Led The World. What Happened?
Britain Once Led The World. What Happened?
Authored by Damian Pudner via the Foundation for Economic Education,
An unsettling look at the economic settlement that the UK now seems willing to accept can be found in the latest fiscal forecast, published on March 3.
By the end of the forecast period, borrowing will have decreased from 5.2 percent of gross domestic product (GDP) in 2024–2025 to about 1.6 percent. Public debt stabilizes at roughly 95 percent of national income. At those levels, even small shifts in interest rates matter: The Office for Budget...
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