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’ 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. 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...