WARNING - Largest Government Debt peace time increase in 300 years is BAD NEWS for us
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
Rob discusses the concerning increase in government debt in the UK, which is the largest peacetime increase in over 300 years. Rob highlights the potential consequences of high levels of national debt, such as difficulty in funding public services and responding to economic crises, and touches on the trebling of the debt ratio in the last 15 years alone, with the ratio of debt to GDP reaching over 100%.
KEY TAKEAWAYS
- The UK has experienced the largest peacetime increase in government debt in over 300 years, which is a cause for concern.
- The ratio of debt to GDP has tripled in the last 15 years alone, reaching over 100% in May 2023.
- High levels of national debt will hinder the UK's ability to fund public services and respond to economic crises.
- The UK's borrowing costs have risen to the highest since 1998, making it more difficult for the government to pay back the debt.
BEST MOMENTS
"We've seen the largest peacetime increase in government debt for more than 300 years."
"High levels of national debt will hurt the UK's ability to fund public services and respond to an economic crisis."
"The knock-on effect is difficulty in funding services and increasing spending in the event of potential future economic crises."
"The forecast is that the ratio will be about 140% of GDP over the next 50 years if current market expectations are correct."
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US