Debate over the UK economy
Debate over the UK economy
@JamesMelville
We are being absolutely fleeced.
UK food prices increased by 37% in the last five years. The basic core essentials of energy, water and food are now becoming unaffordable for millions of people in the UK. And this is compounded by the highest ever tax burden. We are being absolutely fleeced.
UK government borrowing is off the scale: £83.8bn has been borrowed since April 2025. £18bn borrowed in August alone – the highest August figure for five years. Over £100bn spent by the government in just one year on national debt interest payments.
@scottjeff23
”As I understand it, prices aren’t going up, the currency is being devalued, so you need more of it to buy the same thing. Real price increase only occurs when supply is low and demand is high (producers would make a higher margin when the buyer pays more) and that is definitely not what is going on here. Same goes for the input costs of production, the seller believes that it is costing them more to make the item, but is just that their currency has been devalued in precisely the same way, so their costs of production appear higher to them, so they charge more to maintain their margin. This is not going to end well for any of us, buyers or sellers.”
@Ann_T_Muzzi
”Agreed, currency is devaluing by approx 10% pa. But business running costs have also gone up massively, energy mainly.”
@Guardian
UK Borrowing Soars to £18bn in August – Economic Alarm Bells Ring
The UK government borrowed £18 billion in August, far exceeding forecasts of £12 billion. Analysts warn the nation is sliding into a deeper fiscal crisis at the fastest pace in modern history.
The surge in borrowing comes as the Treasury prepares its next budget, expected to include significant tax rises in a bid to contain the spiralling deficit. Critics argue that the government’s policies are driving the economy toward collapse, warning that the mounting debt will soon translate into soaring consumer inflation.
Observers have described the economic fallout as “unprecedented,” with some accusing Labour of having decimated the economy in under a year.
Markets and households now brace for the twin hit of higher taxes and higher prices – a storm many fear will define the UK’s economic future.