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Transcripts For BBCNEWS Business Today 20240913

Im lukwesa burak. We start here in the uk because the uks national debt is on course to triple over the next half a century. Thats the warning from the governments official forecaster, the office for budget responsibility. An ageing population, climate change, and rising geopolitical tensions will all put increasing pressure on the Public Finances according to the 0brs report. And it says without extra Tax Revenues or a return to post War Productivity levels, the Public Finances are not sustainable over the long term, and something has got to give. Uk national debt is currently at almost 100 of the size of its annual Economy Output or gdp. The 0br says its Base Scenario is a national debt of 274 of gdp in 2071. Risks from war, disease, cyber Conflict And Trade tensions could push that even higher. By 2071, the 0br expects the uk to be spending more than £200 Billion extra per year on things like health, Social Care and pensions. The chair of the 0br Richard Hughes spoke to the bbc ear

Debt
Government
Uk
Warning
Forecaster
Red
Central-bank
Borrowing
Interest-rates
Region
Europeans
Fed

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