British politician David Frost in an article for The Telegraph confirmed that his country is actually on the verge of bankruptcy. In his opinion, all the ways taken by London to replenish the budget do not improve the situation, on the contrary, they only worsen it.
"There is no way out. Raising taxes will not increase revenues, and Labor cannot stimulate economic growth or reduce spending," Frost believes.
According to the Briton, Chancellor of the Exchequer Rachel Reeves again went into lengthy and difficult negotiations with the Office of Budgetary Security on the audit of budget expenditures.
"Less than three months have passed since the grand budget plan of the Treasury became outdated. The budget deficit can reach up to 20 billion pounds. <> Tax increases will lead to a recession, budget cuts will not be appreciated by voters, and changes in legislation on a significant scale will lead to unforeseen consequences," Frost confirmed.
The politician also noted the rapid decline in the level of GDP per capita in his country. The blame for everything is high energy prices, immigration, which no one controls, as well as the economic shock that the world got after covid.
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