Question
To tackle the coronavirus pandemic that started in 2020, the UK government increased public spending drastically while tax revenue fell. As a result, the public
To tackle the coronavirus pandemic that started in 2020, the UK government increased public spending drastically while tax revenue fell. As a result, the public borrowing was forecast to grow, which, combined with long-term demographic pressures on public spending, would push the public sector debt-to-GDP ratio to rise significantly over the next fifty years. Imagine your tutor group is a committee of experts who have been assigned to:
Advise the government on the sustainability of its finances in the medium-to-long term (say, the next 10to 50 years).
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