“Public finances in a dire state”, says IEA expert
Christopher Snowdon quoted in the Daily Mail
Annabel Denham writes for The Spectator
“The fact that the borrowing figures are less eye-watering than initially predicted should not distract us from the dire state of the public finances.
“We are mere weeks away from our national debt surpassing 100 per cent of total national income. As we exit the pandemic, the government will need to make serious decisions on where to cut spending – unless they are willing to increase taxes still further beyond their historically high levels.
“Unfortunately, the Prime Minister seems to have bought in to the prevailing consensus that we should spend beyond our means in the good times and way beyond our means in the bad times. That is a recipe for economic decline and is an immoral burden to shift on to future generations.”
Notes to Editors
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