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UK Debt Crisis Hits Home | Business and Finance News
Description
Britain’s soaring national debt is crippling the economy, with £135 billion spent annually just on interest — more than any other G7 nation. This burden hikes mortgage and business loan costs, drains tax revenue, and threatens public services. Rooted in an outdated inflation index and a reliance on long-term debt, the UK’s financial structure leaves it especially vulnerable. Compounding the issue, the Bank of England’s bond-buying policies are fueling supply and pushing yields higher. Without urgent reforms to rigid bond markets, the cycle could stifle growth and squeeze household budgets — making this the Chancellor’s most pressing economic challenge.
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