Because British voters want the government to basically do everything, but too many people are not productive and so to pay for the massive state everyone wants, it has to use massive debt, debt and more debt to be apparently paid off by the next generation, despite many British people deciding they don’t want children either. These same people still want their pension, health and social care when they’re old though, they’re not compromising on that. Oh and the BofE printed vastly more money during covid than many of our G7 rivals to pay people to do nothing. First time humanity has been stupid enough to do that. The big national sickie now has to be paid for. Which do you prefer? High interest rates or high inflation.
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Because British voters want the government to basically do everything, but too many people are not productive and so to pay for the massive state everyone wants, it has to use massive debt, debt and more debt to be apparently paid off by the next generation, despite many British people deciding they don’t want children either. These same people still want their pension, health and social care when they’re old though, they’re not compromising on that. Oh and the BofE printed vastly more money during covid than many of our G7 rivals to pay people to do nothing. First time humanity has been stupid enough to do that. The big national sickie now has to be paid for. Which do you prefer? High interest rates or high inflation.