Britain's national debt may be twice economic output: Report


Currently, the debt is a little over 50 per cent of the country’s economic output.
“Britain’s national debt will quadruple to peaks only ever seen in the wake of the Second World War unless the government takes drastic steps to address the pensions and ageing crisis,” The Sunday Telegraph has reported, attributing to S&P.

According to the publication, the agency has calculated privately that Britain’s public sector debt could quadruple from “its current level of just over 50 per cent of economic output to 200 per cent or above within the next four decades”.

The report noted that it would be mainly due to the cost of servicing public sector pensions, ballooning social security costs and healthcare burdens becoming overwhelming.

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