Britain’s debt problem just got worse.

Right now:
- 6%+ on 30 year gilts, highest since 1998

By 2027/28:
- £117 billion debt interest
- £96.5 billion new borrowing

Over 5 years:
- £682 billion interest
- £58 billion above OBR’s March forecast

Britain is now forecast to spend more on debt interest than it will borrow that year.

After all of that, Britain still owes nearly £3 trillion.

https://uknationaldebt.com/

The Budget is on 28 October and the choices are brutal:

- Tax more and risk capital leaving
- Borrow more and pay more interest
- Dramatically cut spending*
- Debase the currency (although they won't call it that)

* Even savage spending cuts will barely make a dent.

Source: This is Money / Capital Economics / OBR

https://www.thisismoney.co.uk/money/markets/article-16180359/Alarm-Healey-set-spend-loan-repayments-borrowing-latest-Budget-blow.html