UK public debt could treble by 2075: govt
ageing population and climate change, a government watchdog forecast on Thursday.
The projection from the Office for Budget Responsibility comes ahead of the Labour government's maiden budget next month in which some taxes are expected to rise to help fill a blackhole estimated at £22 billion ($29 billion).
Commenting on its latest annual Fiscal Risks and Sustainability report, the OBR noted that «long-term projections such as these are clearly highly uncertain».
But it added that «pressures such as demographic change, rising healthcare costs, and climate change, push debt onto a permanent upward trajectory».
The OBR forecast UK public debt to almost treble to more than 270 percent of the country's gross domestic product by 2075 from a record 100 percent GDP currently.
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