US debt crisis

Why UK Government Borrowing Costs Are Rising as Interest Rates Fall

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Once again, we’re talking about government debt and interest rates. At Labour’s last conference, Andy Burnham was criticised for suggesting the UK government shouldn’t pay so much attention to international financial markets and the price they charge for UK government debt. The criticism was justified: as long as the government has to borrow, it must … Read more

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