Govt must stop madhouse economics… or our kids will be left to pick up the bill
BRITAIN’S £3trillion national debt is now one of the biggest drains on taxpayers’ money.
TL;DR
- Britain's national debt has reached £3 trillion, with £111 billion spent annually on interest payments.
- This level of debt servicing would rank as the third-largest government budget if it were a department.
- The article criticizes the current economic policy as 'tax, borrow, and spend,' with Labour borrowing to cover interest payments.
- Kemi Badenoch's call to halt this cycle is noted, but significant budget cuts are not expected.
- The Royal Navy's fleet has been depleted, leading to warships being sold and crews trained for basic firefighting due to budget constraints.
- Energy bills have seen a 4% hike, with another increase expected, causing hardship for families.
- The article suggests the government is out of touch with the cost of living crisis.