Jubilee Centre David McIlroy
Debt and taxes: the United Kingdom Chancellor’s dilemma
The idea of jubilee articulated in the Old Testament points to an entirely different economic model from the one fuelled by debt and interest which financialised capitalism depends on. 03 MARCH 2021 · 11:08 CET Rishi Sunark, Chancellor of the Exchequer of the UK. / Photo: HM Treasury CC BY-NC-ND 2.0
The success of the UK’s vaccination programme, the Prime Minister’s announcement of a provisional timetable for a return to normal life, and the impending Budget announcement on Wednesday have all turned attention to the question of debt after Covid.
Debt was a chronic issue in our society; the measures taken to combat Covid-19 have made it acute. In his budget on Wednesday, the Chancellor has a tough job, but now is an opportune time to turn around on the pa