Liz Truss

Donald Trump, De-Dollarisation, and the UK’s Debt Crisis

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The interest rate on UK government debt remains stubbornly high—and it’s eating into the public purse. Around 8% of total government spending now goes purely to pay interest on past borrowing. That’s money not spent on the NHS, schools, or infrastructure. The current Labour government inherited a toxic mix: huge debts and higher-than-normal interest rates, … Read more

Public Spending, Accounting Rules, and the Quiet Revolution in Government

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This is the most boring blog you’re ever going to read. Truly dull. It contains some very big numbers and zero sex appeal. And yet, it marks a fundamental shift in how government works in the UK—a quiet but far-reaching change that’s been unfolding over the past year and underpins the most recent Government Spending … Read more