Britain borrowed £18.3 billion in August. Receipts are ahead of forecast, but central government spending is already £7.4 billion above plan and borrowing is £8.1 billion over forecast.
Perhaps the strategy is hoping the algorithm sorts out the deficit before the next fiscal event! Always easier to produce content than balance the books.
Wow, I am assuming that a responsible government would not allow this to continue? If we do continue spending more than we earn what are the implications, ie just carry on, paying more debt interest or is there a crash or worse to face, à la Greece a few years ago?
A full-blown Greece-style crisis is unlikely since we borrow in our own currency, but the real squeeze is that debt interest relentlessly crowds out everyday spending.
It can’t be an issue as our beloved leader is doing TikTok videos from New York!
Perhaps the strategy is hoping the algorithm sorts out the deficit before the next fiscal event! Always easier to produce content than balance the books.
Wow, I am assuming that a responsible government would not allow this to continue? If we do continue spending more than we earn what are the implications, ie just carry on, paying more debt interest or is there a crash or worse to face, à la Greece a few years ago?
A full-blown Greece-style crisis is unlikely since we borrow in our own currency, but the real squeeze is that debt interest relentlessly crowds out everyday spending.