Bloomberg: Britain has a difficult problem filling the state budget
Britain’s next government will face its biggest budget problem since the 1950s. The agency reports this Bloomberg with reference to the British think tank Institute for Fiscal Studies.
“Whoever wins will be shackled by high debt, high interest rates and low growth rates.” [экономического] growth,” the publication reports.
To solve the problem, the government will have to choose from three options: “painfully” cut spending on public services, raise the tax burden, which is already near an 80-year high, or resort to new government borrowing, according to the Institute’s director, Paul Johnson.
Since the referendum on leaving the European Union, the UK economy has had to deal with a number of problems, including rising inflation, as well as a shortage of drivers caused by many leaving the country amid the coronavirus pandemic and Brexit.
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