So, it's finally made a newspaper!
This has been going on for years / decades / generations. Gradually getting worse.
But of course anyone who points these things out must be a raving loon.
QE, covid support, cost of fuel support, the spending goes on and on.
OK, I'm sure that some are going to point out the importance of this and other spending (paying Doctors anyone). The trouble is that spending has exceeded tax receipts for decades.
The last budget surplus was in 2000/2001, but the average deficit since the 70's has been 3.7%
https://commonslibrary.parliament.uk/re ... s/sn06167/So let us be clear, after 20+ years a newspaper has noticed a situation that has been going on for fifty years. I would suspect that it's not the first time that the IFS, the Adam Smith Institute et-al have pointed out issues.
There is a reason why tax is at the highest level since OECD records began. But it's not what we spend, in general. No it's that our government has repeatedly chosen to spend more than the country can afford. Leading to very large interest payments.
That link shows that debt, relative to GDP was brought down for a long time after WWII, but 20 years ago it started to increase. Note, debt is different to deficit, but if you run a deficit you can only reduce debt by inflating it away. Oh, that's right, inflation was very low over the last 20 or so years, so the deficit caused the debt to increase.
It's not bloody rocket science.
Ps, it is I believe suggested that the current government will attempt to reduce taxes, borrowing yet more, in an effort for the party to be re-elected. Possibly something to think about if you believe, against historic evidence, that your vote can change things.