National Debt Set To Escalate Amid Fears Over Further Public Sector Job Cuts

The International Monetary Fund (IMF) has revealed that the UK’s gross debt is likely to increase significantly as a proportion of GDP over the next 5 years. The report revealed that the UK’s Debt to GDP figures could rise as high as 96% by 2015, which is double what it was in 2007.Debt advice charities are expecting increased numbers to call for support and advice when these cuts are enforced onto so many.

The International Monetary Fund (IMF) has revealed that the UK’s gross debt is likely to increase significantly as a proportion of GDP over the next 5 years. The report revealed that the UK’s Debt to GDP figures could rise as high as 96% by 2015, which is double what it was in 2007.Debt advice charities are expecting increased numbers to call for support and advice when these cuts are enforced onto so many.

If the projections are accurate, it is likely that remedial fiscal policy could see austere public sector funding cuts much worse than previously feared and continuing for much longer than we’d hoped and basic services such as pensions and health care will also be under the microscope. It’s difficult to see how Government can continue to shelter the most vulnerable members of society whilst making such large cutbacks.

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