Act soon to change ‘unsustainable’ direction of UK debt, OBR warns
Forecaster says curtailing rising costs such as health and pensions ‘are today’s challenge, not just tomorrow’s’Business live – latest updatesPolicymakers must act to prevent public debt rising unsustainably in coming decades as the population ages and defence spending rises, the government’s independent economic forecaster has said.In a fresh illustration of the challenges facing the prime minister in waiting, Andy Burnham, the Office for Budget Responsibility (OBR) said that without government
Overview
Forecaster says curtailing rising costs such as health and pensions ‘are today’s challenge, not just tomorrow’s’
Policymakers must act to prevent public debt rising unsustainably in coming decades as the population ages and defence spending rises, the government’s independent economic forecaster has said.
Details
In a fresh illustration of the challenges facing the prime minister in waiting, Andy Burnham, the Office for Budget Responsibility (OBR) said that without government action “debt would move on to what would be an unsustainable, ever-upward path from around the 2040s”.
Continue reading...Source
Originally published at www.theguardian.com.
Related Articles
- Diana Shipping Inc. Announces Time Charter Contract for m/v Medusa with Aquavita
- Texxon Holding Limited Announces Commencement of Operations at Henan Polystyrene Production Facility, A Milestone in Manufacturing Expansion Strategy
- Columbia Financial, Inc. Commences Firm Commitment Underwritten Offering
