A financial group has warned that Britain’s national debt level could quadruple if the Government does not act fast and take drastic steps to control the situation.
The circumstances are so dire, that the financial strain could reach debt levels associated with the Second World War, if the Government does not address the pensions and ageing crisis.
The ratings agency calculated that the UK’s public sector debt could quadruple from its current level of just 50pc of the economic output to 200pc or above within the next forty years.
This figure is expected to rise due to the cost of servicing public sector pensions, ballooning social security and overwhelming healthcare pressures. Oh dear.
