Tom Harwood has expressed alarm at the Office for Budget Responsibility's latest projections, which showed that UK national debt could soar to 270 per cent of GDP, stating it as "effective bankruptcy."
The OBR's annual Fiscal Risks and Sustainability report, published today, warned that the UK's public finances are in a "relatively vulnerable position" following a series of economic shocks.
Speaking about the bombshell report on GB News, host Emily Carver said: "National debt is projected to rise to 270 per cent of GDP by the early 2070s. It seems a long way off, but it’s not actually that far away."
Director of the Centre for Policy Studies, Robert Colvile responded: "We should be very worried about this. I mean, this should be the main story on the news every single day that unless something is done, unless we change course, the country is in an unsustainable position. Essentially, we’re going to need either very big tax rises or very big spending cuts."