Britain Is BROKE: £3 Trillion Debt, Welfare Cuts & the Budget Crisis | Damien Pudner
Description: Is Britain heading towards a full-blown debt crisis?
Damien Pudner joins the discussion to examine the scale of Britain’s public finances, from the £3 trillion national debt and soaring debt-interest payments to the rapidly growing UK welfare bill, government borrowing and the pressure on taxpayers.
The conversation begins with Conservative proposals to reform Universal Credit, including reduced payments for some claimants and restrictions on how benefits could be spent. But Pudner argues that savings of hundreds of millions are little more than “tinkering around the edges” when welfare spending is heading towards hundreds of billions of pounds every year.
The discussion then turns to the much bigger question: what would it actually take to repair Britain’s finances?
Pudner sets out the case for welfare savings on a far larger scale, discusses the future of the state pension triple lock, benefit fraud, government spending and the difficult choices facing any future Chancellor.
They also break down how UK government debt and gilts actually work, who receives Britain’s debt-interest payments and why rising gilt yields can eventually feed through into higher borrowing costs, mortgages, loans and credit-card bills.
Topics include:
• Britain’s £3 trillion national debt
• The growing UK welfare bill
• Universal Credit reform
• Government borrowing and the Budget
• Debt-interest payments
• UK gilts and bond markets
• Welfare cuts and benefit fraud
• The state pension triple lock
• Inflation and economic growth
• Tax rises and public spending
• Mortgage and borrowing costs
• Whether politicians are confronting the true scale of Britain’s fiscal problems
Can Britain cut spending without hurting those who genuinely need support? And are the reforms currently being proposed anywhere near big enough?
Watch the full discussion and tell us what you think in the comments.
#UKPolitics #UKDebt #Economy #Budget #Welfare #UniversalCredit #NationalDebt #UKEconomy #Tax #GovernmentSpending #WelfareReform #Pensions #Inflation #Gilts #DamienPudner Close description
Damien Pudner joins the discussion to examine the scale of Britain’s public finances, from the £3 trillion national debt and soaring debt-interest payments to the rapidly growing UK welfare bill, government borrowing and the pressure on taxpayers.
The conversation begins with Conservative proposals to reform Universal Credit, including reduced payments for some claimants and restrictions on how benefits could be spent. But Pudner argues that savings of hundreds of millions are little more than “tinkering around the edges” when welfare spending is heading towards hundreds of billions of pounds every year.
The discussion then turns to the much bigger question: what would it actually take to repair Britain’s finances?
Pudner sets out the case for welfare savings on a far larger scale, discusses the future of the state pension triple lock, benefit fraud, government spending and the difficult choices facing any future Chancellor.
They also break down how UK government debt and gilts actually work, who receives Britain’s debt-interest payments and why rising gilt yields can eventually feed through into higher borrowing costs, mortgages, loans and credit-card bills.
Topics include:
• Britain’s £3 trillion national debt
• The growing UK welfare bill
• Universal Credit reform
• Government borrowing and the Budget
• Debt-interest payments
• UK gilts and bond markets
• Welfare cuts and benefit fraud
• The state pension triple lock
• Inflation and economic growth
• Tax rises and public spending
• Mortgage and borrowing costs
• Whether politicians are confronting the true scale of Britain’s fiscal problems
Can Britain cut spending without hurting those who genuinely need support? And are the reforms currently being proposed anywhere near big enough?
Watch the full discussion and tell us what you think in the comments.
#UKPolitics #UKDebt #Economy #Budget #Welfare #UniversalCredit #NationalDebt #UKEconomy #Tax #GovernmentSpending #WelfareReform #Pensions #Inflation #Gilts #DamienPudner Close description