We are walking on a cliff edge when it comes to the debt burden
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Philip Booth writes for the Yorkshire Post
Editorial and Programmes Director Professor Philip Booth discusses the growing debt burden in the Yorkshire Post.
He argues that “we are certainly walking on a cliff edge. Public spending on health, welfare and education are all rising rapidly and the private sector of the economy is ever-more bound up with regulation and higher taxes. Quite apart from the fall-out from the current financial crisis the burdens being placed on the private sector of the economy are huge. The additional burden of financing the various commitments to which governments have more or less bound future generations might push us over the edge.”
He argues that “we are certainly walking on a cliff edge. Public spending on health, welfare and education are all rising rapidly and the private sector of the economy is ever-more bound up with regulation and higher taxes. Quite apart from the fall-out from the current financial crisis the burdens being placed on the private sector of the economy are huge. The additional burden of financing the various commitments to which governments have more or less bound future generations might push us over the edge.”
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