Thursday, 7 August 2025

How the UK's huge debt pile compares with other nations

UK chancellor Rachel Reeves remains under intense pressure to tackle mounting government debt.

On Wednesday, UK think tank National Institute of Economic and Social Research (NIESR) released a report forecasting that Reeves was on course to miss her borrowing targets by £41.2bn.

The think tank also posed a solution: Reeves should raise taxes immediately. It recommended "a moderate but sustained increase", including reform of the council tax system to make up the shortfall.


By Tola Onanuga,

Full story at Yahoo News

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