UK Government borrowing surges to highest September figure in five years

https://www.lbc.co.uk/article/20213e4dc68f4c5ea86b282a23c498fc-5HjdFgN_2/

by StGuthlac2025

6 comments

  1. This is unsustainable. You need to either raise taxes or cut services, or a combo. There are a lot of rich folk earning £100k or more that need to be taxed and pay their fair share. Also increase capital gains taxes and introduce tax on unrealised capital gains. Lots of innovation can be done to the tax system. Also, everybody should contribute some taxes unless they’re pensioners.

  2. Literally impossible we’ve had record migration taxes should be through the roof! Unless reddit was wrong

  3. Depends what they’re borrowing for. If it’s to invest in things like infrastructure or projects that promote growth, fine. If it’s to pay for triple lock derived pension shortfalls, asylum hotels and benefits, less fine.

  4. At the budget, she’s going to say the tax rises that are already happening due to the frozen thresholds aren’t enough, that the NI increase from last year wasn’t enough, and that another tax rise is needed. She’ll blame some one-off, COVID, higher interest rates, brexit, but the reality is our biggest expenditure is on pensions and welfare, and those costs are going to continue to grow. Labour made a token effort at reducing these costs but backed down at the first hint of resistance. Until someone with a spine brings those exploding costs under control the government is going to need either more and more tax increases or more and more borrowing every year, and our tax rates are already strangling the economy. 

  5. I seem to recall exactly the same thing happened under the last Labour government. Right before the greatest recession since WW2.

    “There’s no money left…” was the famous note left by the outgoing chancellor.

    No doubt the next government will have to pick up the pieces and be blamed for years of austerity to fix the mess (again).

  6. Seems like a very specific cherry picked month by the phrasing. There’s 12 months but it’s the only one that’s the highest in 5 years? Im not going to prep the doomsday bunker just yet

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